Ofgem announcement on mid-point review for electricity distribution price control a “missed opportunity”, says Citizens Advice
Citizens Advice has responded to announcements by Ofgem that it will not open a mid-period review of the 2015-2023 electricity distribution price control and that Western Power Distribution (WPD) will return £77m to customers.
Victoria MacGregor, Director of Energy at Citizens Advice, said:
“Energy network companies are making billions in excess profits and it is consumers who are paying the price. Ofgem’s decision not to undertake a mid-point review of the current price controls for electricity distributors is disappointing.
“Today’s announcement was a missed opportunity for the regulator to put right decisions that have effectively handed these companies billions in unjustified profits. Electricity distributors have five more years of the current price controls, meaning five more years of excessive profits.
“We welcome the news that WPD will return £77m to consumers, but in future we shouldn’t have to rely on firms voluntarily returning money. The next set of price controls (RIIO2) must ensure that when infrastructure funding goes unspent, this money is automatically returned to consumers and bills are reduced”
Notes to editors
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