SSE has today published its response to the consultation on a Competition Markets Authority investigation into energy supply, and renews its call for any investigation to have a broad enough scope if it is to reach a new, lasting settlement on the energy market for the benefit of customers and investors.
In a cover letter to Dermot Nolan, Chief Executive of Ofgem, Alistair Phillips-Davies said:
“SSE has consistently demonstrated its appetite for reform to the competitive market that is in the interests of customers and competition generally. Should a market investigation reference be considered necessary, we will engage in a positive and constructive way as we believe that it can provide a platform for achieving greater political and regulatory stability for the competitive energy market across Great Britain, for the benefit of customers and to help support the investment in the country’s energy system that is needed.”
In the consultation response SSE defines five principles for a successful inquiry:
- Focus on all energy customers – so what they pay for is defined and transparent
- Get the scope right – so it is broad enough to restore trust in the competitive markets
- Create simple markets - which encourage new entrants and give the opportunity for different business models to thrive
- Establish clear measures of success in advance - so people can see objectively how the market is performing
- Achieve lasting results - so there is a clear and enduring framework that gives customers confidence, allows regulators to regulate and encourages investors to invest in the GB energy market