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<p>The detriment to retail energy customers on poor value standard variable tariffs,
which was identified by the Competition and Market Authority as averaging £1.4bn a
year, must be addressed.</p><p>My right hon. Friend the Secretary of State has written
to the Chief Executive of Ofgem asking him to advise on what action the regulator
intends to take to safeguard consumers on the poorest value tariffs and to consider
the future of standard variable tariffs. The Secretary of State will consider further
action in the light of Ofgem’s proposals and remains prepared to legislate if necessary.</p>
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