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<p>The detriment to retail energy customers on poor value standard variable tariffs,
which was identified by the Competition and Markets Authority as averaging £1.4bn
a year, must be addressed.</p><p> </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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