04
October
2017
|
15:58
Europe/London

E.ON UK CEO says: “Why cap it when you can scrap it?”

Michael Lewis, CEO of E.ON UK
Tomorrow is about helping all customers engage with the market with tariffs that work for them. Therefore the question is ‘why cap it when you can scrap it?’
Michael Lewis, CEO of E.ON UK

E.ON reaffirms promise to end its Standard Variable Tariff for all customers following the Prime Minister’s comments regarding the energy market

Commenting on the energy section of Prime Minister Theresa May’s speech at the Conservative Party Conference today (WED), Michael Lewis, Chief Executive of E.ON UK said:

“As we have made clear, we believe for all customers standard variable tariffs have had their day. Tomorrow is about helping all customers engage with the market with tariffs that work for them. Therefore the question is ‘why cap it when you can scrap it?’

“We are taking action now to make that happen for our customers. For example we’ve already announced our plans for a unilateral move away from SVT for all customers and have installed around a million smart meters so far to bring energy supply into the modern age. We will of course also look at the detail behind the comments made by the Prime Minister today but remain utterly convinced that increased engagement in the energy market is the best way forward for all customers and changes to make this a reality are already happening.”

Starting in early 2018 standard variable tariffs will no longer be the default option for people coming to the end of their existing tariff with E.ON. Instead, customers will have the option to move on to the latest version of a fixed term contract or select E.ON’s other available and appropriate tariffs. Existing standard tariff customers will move, as part of a managed programme, to a new fixed term tariff with the same options at the end or, if they really don’t want to, they will have the possibility to opt out and remain on an evergreen variable tariff.

E.ON is the first of the larger suppliers to make this change and further details of the original announcement can be found here: https://www.eonenergy.com/about-eon/media-centre/eon-acts-to-begin-replacing-standard-variable-tariffs-for-its-customers/

Ends

For more information contact:

Scott Somerville (07889 771 804)

Andrew Barrow (02476 183 677)

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