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Ofgem proposes a standard tariff for more transparency (UK)

Ofgem is proposing a radical reform model for simple tariffs, clearer bills and annual statements. After extensive analysis, Ofgem has decided to progress its preferred model for the reform of the retail energy market. Ofgem is proposing to give consumers a much clearer choice than the 400 tariffs currently available. Each supplier will be required to offer just one standard tariff for each payment type. With the standing charge set by Ofgem suppliers will only be able to change the unit price, which means that consumers will be able to compare prices at a glance. For these standard tariffs all other complications like different tier prices and complex discount structures will be removed. So the lower the price the smaller the bill, with no exceptions. Ofgem also wants to allow consumers the choice of more innovative tariffs and to encourage new firms to enter the competitive market to increase pressure on the Big Six.