Financial services and fuel markets receive poor rating among EU consumers

According to a study carried by the European Commission, services markets continue to under-perform in 2011 as in 2010, with financial services and network services all below average. Electricity supply and fuels deteriorated most in comparison with 2010 reflecting consumer sentiments of electricity and fuel prices.

"The value of the Single Market for consumers is measured by what it delivers for them in terms of quality, greater choice, lower prices, transparency and satisfaction. Thanks to the Scoreboard, we can see where this does not seem to be happening," European Commissioner John Dalli said.

“The process is about evidence-based policy to real problems that consumers face in the Single Market. Businesses that respond to consumer needs will be rewarded by consumer choice."

The annual Consumer Markets Scoreboard ranks 51 services and goods markets and covers more than 60% of household budgets. Its goal to see which are likely to be failing consumers across the EU. Its purpose is to identify markets that appear most at risk of malfunctioning for follow-up studies, analysing problems in depth and identifying policy responses.

Based on the latest findings, the European Commission is expected to explore consumer credit and fuel markets by launching two market studies.

Financial services, investments (including pensions and securities), mortgages and real estate services are the markets most likely to be failing consumers across the EU, according to latest Consumer Markets Scoreboard.

Although appearing to be working much better than in 2010, the goods market displayed an exception with second-hand cars and vehicle fuels scoring lowest on the chart. In 2010 the lowest score went to second-hand cars, clothing and footwear, and meat.