Ofgem should help drive down standing charges for energy bill payers around Britain, the head of one of the country’s largest suppliers has said, after announcing that his popular Octopus Energy firm would knock 4 per cent off the standing charge for customers whose bills are regulated by the energy price cap.
“Customers really do want to see standing charges come down, and I think Octopus can take a lead on it. I just hope that Ofgem follows,” Jackson told the PA news agency.
Asked if other suppliers should follow suit, he said: “If you’re Costa Coffee, I don’t know whether you’d call on Starbucks to do what you do. Other suppliers can do what they like.
“I think what’s important here is that Ofgem should start moving costs out of the standing charge and they should do so with a sense of urgency because standing charges are pernicious for low-energy users."
The UK is currently facing a cost-of-living crisis, with inflation hitting historic levels...