Ofgem calls for energy bills to be clearer28th February 2014
New rules will come into effect from March 31st in a bid to provide greater transparency for consumers, in regards to their energy bills.
Ofgem is demanding the so-called Big Six suppliers publish the price at which they sell wholesale power up to two years in advance.
The energy regulator has ordered the prices to be unveiled every day in two one-hour windows to encourage fairer trading among suppliers and generators.
If any company does not adhere to these new measures, they will be fined.
Ofgem's chief executive Andrew Wright said: "Our rules for a simpler, clearer, fairer energy market are coming into force, meaning that it is getting easier for consumers to pick out the best deals."
He added the new reforms gave independent suppliers, generators and new entrants the visibility of prices and opportunities to trade so they could compete with the country's largest energy suppliers.
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Posted by The EnerGenie