Ofgem’s new rule requiring energy suppliers to notify their customers 30 days before any price changes is now active.

The rule was a result of the regulator’s recent review into the energy industry.

Ofgem’s rule is intended to create more transparency between supplier and consumer, Ofgem says.

The 30 day notice period should allow consumers to look for alternative energy prices before they are put on higher rates.

Suppliers were previously able to notify consumers up to 65 days after they changed their prices, meaning consumers would pay higher bills unknowingly for up to two months.

The price change warnings should increase competition in the market by allowing the consumer some time to assess their energy options before the price changes are made.

Ofgem have also urged suppliers to create simpler and more easily understandable tariffs to help their domestic customers compare prices.