E.ON UK comment in response to the publication of Labour's Green Paper on Energy

By ScottSomerville

Responding to the publication of Labour's Green Paper on Energy, Tony Cocker, Chief Executive of E.ON UK said:

"There are many aspects of Labour's Green Paper that we do agree with and are the current basis for how we operate. For example we run our businesses separately so they stand on their own two feet, we've led the opening up of the day ahead market, we don't cross-subsidise between different parts of our operations, we've invested more than we've made in profit in each of the last five years, which is a figure that totals over £6bn, and we buy all the energy that we need for our supply business on the markets. However, we believe an artificial price freeze is the wrong course of action to help our customers.

"What our customers need and deserve is help in both the short, and the long-term, so I'm once again asking all politicians: Help us to get Smart meters into more homes more quickly. Help us to get British homes up to a modern, energy efficient standard. Help us to get UK businesses on top of their energy use.

"We also need to set the market for the long-term and depoliticise the energy industry. Therefore it is absolutely clear that it is time for a full market investigation reference to the Competition Commission. Only this would provide the in depth look and consideration of the market and its features that is needed. Furthermore, a Competition Commission investigation would provide an independent in-depth assessment of the market by a highly respected organisation, which has not looked into this market for a number of years and, perhaps surprisingly, never previously in the form of a market investigation reference. This could provide either a confirmation in relation to the proper operation of competition in the market or considered recommendations as to how competition might be improved. In either case, it would dispel many of the myths and misinformation that surround the market."

Ends.

Media contacts:

Victoria Blake (02476 181304 or victoria.blake@eonenergy.com)

Scott Somerville (02476 183 438 or 07540 817 936)