Ofgem
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Response to EON's decision to close its staywarm tariff

A spokesperson for Ofgem said:

“We know that customers are confused by the vast number of tariffs in the market. That’s why we are giving them the simplicity we know they want, through the biggest reforms to retail market since competition began. 

“Our rules state that by the end of this year suppliers will be restricted to offering up for four core tariffs per fuel only. We have never told suppliers which tariffs they have to close to comply with this rule, as that is a decision for them. And in fact we have been clear with all suppliers that they would have been allowed to keep social tariffs (which for example offer discounts to customers who have difficulty paying bills) under our rules.  

"Once our rules are in place suppliers will have to make sure that any customers affected by their decisions to close tariffs are given details of the cheapest offer their supplier has.”
               
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Ofgem is the Office of the Gas and Electricity Markets, which supports the Gas and Electricity Markets Authority, the regulator of the gas and electricity industries in Great Britain. The Authority's functions are set out mainly in the Gas Act 1986, the Electricity Act 1989, the Competition Act 1998 and the Utilities Act 2000. In this note, the functions of the Authority under all the relevant Acts are, for simplicity, described as the functions of Ofgem.

For further press information contact:
Chris Lock: 020 7901 7225
Out of hours: 07766 511470

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