The call comes as part of a series of public tests set out by Which? to prove the CMA’s recommendations are credible for consumers, ahead of the provisional findings of its ongoing energy market investigation to be published next month.
Other tests include: an increase in consumer engagement and an introduction of reforms to make the market less complicated for consumers; and ensuring protection for customers who are unable to because of “poor value standard tariffs”.
The CMA must also make sure there is greater transparency over the profitability of the big six, so wholesale price cuts are passed on fairly to consumers, and improve liquidity in the market.
In an open letter, the group said it “expects the CMA to set out clearly its findings and conclusions for consumers in response to each of these tests”.
Which? executive director Richard Lloyd said: “The CMA investigation is a golden opportunity to ensure the energy market is performing competitively, efficiently and in the interests of all consumers. The CMA must announce remedies which will tackle the fundamental failings of this broken market once and for all.
“After years of being poorly served by energy suppliers, consumers are expecting to see radical proposals that will dramatically improve this market and restore trust.”
In a report published in February, Which? said it believed energy suppliers had “overcharged” consumers by up to £2.9 billion over the last year by not cutting bills further and sooner.
Ahead of the general election next month, there has been discord among the political parties as to whether the CMA’s findings should be treated as binding.
Energy secretary Ed Davey said the Liberal Democrats would not treat them as binding, but added that they must be taken “very, very seriously”. While David Cameron said the Conservatives would implement the recommendations and shadow energy secretary Caroline Flint said Labour would reform the market, regardless of the findings.
Read Utility Week’s analysis of new energy players here.