Regulators are consolidated into four main bodies. Ofgem for energy. Of water for water, of Ofcom for communications and the CAA for airlines and airports.
What a dreadful mess they have made of their responsibilities to protect the public and.our money. Regulators have shifted away from delivering below inflation price increase to wider ‘fancy dan’ objectives, at our cost.
Rising energy prices have emphasised Of gems failure to keep a cap on prices. It is only because of government action that Bill’s ate being held down.
The enforced installation of pre payment meters on customers also reflects badly on Ofgem’s role and responsibilities to customers. Are they to close to business?
Ofcom haven’t prevented mobile phone companies increasing prices to four%. There has been a 40% rise on the cost of a first class stamp. No doubt you can think of a long list of price rises under the oversight of the main regulatory bodies.
Since inflation has risen and the cost of living crisis, in general has created havoc to everyone’s personal budgets, What have regulators done to protect you against unwanted price rises and deteriorating service standards.
Regulators must prioritise customers interests more effectively from rising prices and falling standards. Too much Company profit is being drained from poorly run services, we all pay for in our bills.
Regulatory bodies need a complete overhaul and return to basics, a focus on keeping prices down, as the current system is not working for the either the customers or our economy.
Doug James, Walsall