Proposal to breakdown costs on energy bills
Under the proposal, annual statements would also breakdown the following:
- Contributions to environmental levies
- Costs of smart meters
- Energy investments
'Display profit' on energy bills
MPs say energy firms should tell every customer what proportion of the bill goes towards their profit. Under the proposal annual statements would give details of operating costs, wholesale prices and profits.
Trust in energy companies 'at rock bottom'
– Committee chairman, Tim YeoTrust in energy companies is at rock bottom and consumers don't have the right information to hand to make informed choices about where they get their energy.
Most consumers simply don't know how to interpret their energy bills and this puts them off attempting to switch suppliers.
The Government should be doing all it can to increase competition in the energy market and must make it easier for new entrants to join the market.
Advertisement
Energy suppliers 'should display profit' on customer bills
MPs say energy firms should tell every customer what proportion of the bill goes towards their profit. Under the proposal annual statements would give details of operating costs, wholesale prices and profits.
