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Energy companies will be able to offer only four tariffs each for gas and electricity under government plans to get customers a better deal on energy. The government says it wants customers placed on the cheapest available price by summer 2014 at the latest. However, ministers admitted they could not guarantee all households would see their energy bills cut. Business and consumer groups warned the plans could mean some of the cheapest tariffs on offer disappear. Labour welcomed plans to make tariffs simpler, but said the government also needed to reform the energy market and create a new watchdog to force companies to pass on price cuts. The proposals, which are expected to be included in the forthcoming Energy Bill, have been put out for consultation until January.
'Bamboozled '
They include forcing energy firms to offer just four core tariffs for both gas and electricity - a fixed price for a fixed term and a standard variable rate, with two others based on different criteria such as payment method or whether renewable energy was a factor.....Read more here: Ed Davey announces plan
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Energy minister Ed Davey has unveiled the government's much-trailed Energy Bill, setting out the roadmap for the UK's switch to "a low-carbon economy". Energy firms can increase the "green" levy from £3bn to £7.6bn a year by 2020, potentially increasing household bills by £100. But big, energy-intensive companies could be exempt from the extra costs of the switch to renewable energy. There are also proposals for financial incentives to reduce energy demand. The "transformation" will cost the UK £110bn over ten years, Mr Davey said....Read more here: BBC News - Energy Bill to create , says Davey