Martin Lewis reacts to new proposals for Brits switching energy providers

• Consumer champion Martin Lewis has criticised Ofgem proposals to introduce a market stabilisation charge, warning it could effectively act as a switching penalty for energy consumers.
• The scheme could force energy providers offering cheap switcher deals to compensate a customer's former supplier if wholesale energy prices drop sharply.
• Energy regulator Ofgem launched a consultation on the measure to protect the energy market from potential price volatility ahead of a difficult winter.
• Mr Lewis argued the move would dampen market competition and protect supplier profits, limiting the savings available to householders if wholesale rates fall.
• The mechanism was previously utilised between April 2022 and March 2024 to stabilise the market following Russia's invasion of Ukraine.

IN FULL

Martin Lewis hits out at plans to introduce new energy bills ‘penalty’