Nov 20, 2017

British Gas scraps standard tariff for new customers

Energy giant British Gas will scrap its standard variable tariff price category by April for new customers. The Draft Domestic Gas and Electricity Bill would give energy regulator Ofgem the power to cap SVTs. Rival energy firm E.On has already said SVTs will no longer be the default option for customers coming to the end of their existing tariffs. Announcing the change, Ian Conn, chief executive of British Gas parent firm Centrica, said: "We have long advocated that the end of the Standard Variable Tariff is the best way to encourage customers to shop around for the best energy deal." Although the development only applies to new customers, Mr Conn said the company was keen to move all its customers off the SVT. "We will contact all of our customers at least twice a year to encourage them to move away from the SVT," he said. British Gas contacted all its SVT customers in the first half of 2017, and it says that 10% switched away from the tariff.

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