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Responding to Ofgem’s non-domestic power market overview, Tina McKenzie, Coverage Chair of the Federation of Small Companies (FSB) stated: “Small corporations have been ready for measures that might assist alleviate the hovering power prices and handle the heavy-handed strategy of power suppliers. We’ve been working with Ofgem to ensure the voice of small companies is heard, so we welcome and are happy to see at present’s publication of the non-domestic market overview.
“Now we have been calling for a ‘mix and prolong’ contract renegotiation for small companies who fastened their tariffs throughout market peak final 12 months. We’re glad to see the power regulator has backed our name and once more urge suppliers to step up, act with equity and adapt.
“Whereas a handful of power suppliers have adopted our ‘mix and prolong’ proposals, small companies have been complaining to us that they have been excluded from the renegotiation as a result of they secured contracts by a third-party dealer. The obligations from power giants shouldn’t be restricted simply to their direct clients; they need to cease washing their arms of consumers whose offers are signed through a dealer.
“The difficulty of small corporations being charged disproportionate safety deposits is one thing we continually hear. Vitality suppliers ought to observe Ofgem’s safety deposit greatest observe information and cease asking weak small corporations for giant sums of upfront funds given many are engaged on little to no money reserves. We’ve repeatedly urged the Authorities to shut a major regulatory hole by introducing Third Get together Intermediaries (TPIs) regulation, eliminating unethical practices within the sector. It’s encouraging to see Ofgem recognise the significance of this, in addition to backing our name to broaden entry to the Vitality Ombudsman.
“The power value disaster illustrates the necessity for firmer motion from Ofgem to guard small enterprise clients by cooling off durations – we strongly imagine microbusiness needs to be given extra flexibility to cancel a contract and have entry to a 14-day cooling-off interval for all switches. It will put them on par with home clients and we sit up for partaking Ofgem on this additional.”
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