Flowgroup plc Flowgroup welcomes CMA findings
10 March 2016 - 11:55PM
RNS Non-Regulatory
TIDMFLOW
Flowgroup plc
10 March 2016
Flowgroup plc
("Flowgroup" or the "Company")
Flowgroup welcomes initial findings of CMA report into
competition in the energy market
Flowgroup plc (AIM: FLOW), which provides innovative energy
technologies, energy supply and energy services, welcomes the
initial findings of the Competition and Markets Authority (CMA)
report into the competitiveness of the energy market and believes
that they are broadly positive for its energy business, Flow
Energy.
The senior team at Flow Energy have been engaged with the CMA
process from the start of the investigation in 2014 and agree with
the majority of the findings, as well as the need to investigate
competition in the energy market generally. The Company believes
that enhanced competition and the ability for energy suppliers to
innovate, two key findings from the report, would allow the energy
industry to deliver a better service to customers overall and would
give smaller suppliers like Flow Energy the chance to grow more
quickly and play a bigger part in effecting the change that, as is
now generally agreed, energy customers want to see.
Andrew Beasley, Managing Director of Flow Energy, commented: "We
concentrate on delivering the best possible service to our
customers at the best possible price by focusing on the customer
and being innovative. The CMA report is fairly critical of the
opposite approach, where customers suffer from high prices and poor
service. We therefore believe that the CMA report can only be
beneficial for customers, and particularly the customers of
smaller, innovative suppliers like Flow Energy, in focusing on
better outcomes for customers by increasing competition and
creating the space for suppliers to innovate even more.
"We look forward to engaging with the CMA through the
consultation period following these initial findings, and into the
implementation phase, where we will continue to make the case for
the importance of smaller suppliers in the energy market. Of
course, we believe that suppliers like Flow Energy have already
provided customers with the opportunity to save money and enjoy
great service so we hope that any customers following the CMA
investigation will engage with a competitive market today and enjoy
its benefits now."
Flowgroup plc www.flowgroup.uk.com
Andrew Beasley, Managing Director, Flow Energy Tel: +44 (0)151 348
2100
Walbrook PR Ltd Tel: +44 (0)20 7933 8780 or flowgroup@walbrookpr.com
Paul McManus (Media Relations) Mob: 07980 541 893
This information is provided by RNS
The company news service from the London Stock Exchange
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