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Small shops fight for “better” energy market regulation

Posted at July 16, 2023 » By : » Categories : News » Comments Off on Small shops fight for “better” energy market regulation

Local convenience stores are demanding improved regulation of the energy market to protect themselves from skyrocketing costs.

The Association of Convenience Stores (ACS) has emphasised the urgent need for transparent information on billing, payment options, data transparency, contract terms and termination.

The ACS also highlights the importance of expanding the definition of microbusinesses to include a wider range of small enterprises, such as convenience stores.

This expansion would provide these businesses with better access to support and guidance, ensuring fair treatment in the energy market.

The association also notes that there is a lack of assistance from Ofgem during periods of rising energy costs.

They say a mechanism should be established to alleviate the burden on businesses that entered long term fixed energy contracts when wholesale energy prices were exceptionally high.

ACS Chief Executive James Lowman said: “Convenience retailers are doing everything they can to try and cut costs so that they can continue trading and providing their communities with access to vital services, but this is becoming increasingly difficult as a result of rising costs and the pressure is mounting.

“The government needs to commit to taking action to provide these vulnerable businesses with greater support so that they can keep their doors open now and into the future.”

Energy Live News has approached the Department for Energy Security and Net Zero for comment.

Article source: https://www.energylivenews.com/2023/07/14/small-shops-fight-for-better-energy-market-regulation/

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