The Fed in Parliament to Back Calls for Greater Transparency to Help Control High Energy Costs for Business

The Federation of Independent Retailers (the Fed) has backed the campaign led by Sarah Edwards, Labour MP for Tamworth, to boost competitiveness in the business energy market at the launch of the “Trust and Transparency Energy Charter” in Parliament on Wednesday 25th February.

During the event, Fed member and South East London Independent Retailer Kaual Patel spoke to an audience of MPs, retail and hospitality representatives and figures from the energy industry about the negative impact of high costs for small shops like his.

Sarah Edwards MP said that “Trust in the business energy market depends on customers being able to see who is committed to doing the right thing. This charter creates an important signpost for businesses seeking transparent, customer-focused brokers and suppliers.”

The Fed collaborated in the event with a range of stakeholders across retail, hospitality, the energy sector and more – with the Charter being signed by figures from the Startup Coalition, BRC, ACS, BIRA, FSB, UK Hospitality, and more. After speaking on behalf of retailers, Mr. Patel signed the Charter on behalf of the Fed and thousands of members across the country.

In his speech, Mr. Patel said that: “Our convenience stores play an important economic and social role as visible retailers at the heart of their communities, but rising energy bills are a growing concern, because they are energy intensive, often requiring 24-hour refrigeration… the way energy companies impose bills means that things are often skewed against small business, particularly shops. Ultimately, high energy costs impact the sustainability of thousands of businesses like mine and our ability to employ the many staff that the economy relies on”

More specifically, the Charter calls for:

• Standardised, upfront disclosure of the full cost of electricity
• Clear, enforceable rules on sales and pricing
• Simple switching and genuine supplier choice
• Stronger protections for SMEs
• Secure access to energy data to drive innovation

As well as Sarah Edwards, the Fed met with other MPs including Jim Shannon who the Fed recently met at Comber in Northern Ireland, Joshua Reynolds MP who recently met with the Fed’s National President Hetal Patel and Liberal Democrat Business Spokesperson, Sarah Olney MP who the Liberal Democrats recently discussed retail crime with.