Centrica to Withdraw Standard Variable Tariff for New Customers
November 20 2017 - 3:00AM
Dow Jones News
By Adria Calatayud
U.K. energy services group Centrica PLC (CNA.LN) said Monday
that it is to withdraw its standard variable tariff for new
customers and encourage existing customers to move to other
products.
The company said the move is part of a drive to increase
engagement and choice, which will also include the introduction of
a new fixed-term default tariff and simpler billing.
Centrica added it has proposed measures to the U.K. government
to reform the country's energy market. The proposal suggests
phasing out standard variable tariffs altogether, as the company
believes it is the best way to encourage customers to look for the
best energy deal, and the prohibition of all tariffs without an end
date.
"We fully recognize that the energy market can and should be
improved, but further price controls will only set this back," said
Centrica Chief Executive Iain Conn.
Write to Adria Calatayud at
adria.calatayudvaello@dowjones.com
(END) Dow Jones Newswires
November 20, 2017 02:45 ET (07:45 GMT)
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