Monday 31 March 2014

'Big six' energy firms face competition inquiry

Regulators will investigate whether the "big six" UK energy suppliers prevent effective competition in the UK energy market.

A report by regulator Ofgem has called for an investigation by the Competition and Markets Authority (CMA) which could take 18 months.

Centrica boss Sam Laidlaw said it would cause delays to investment and "an increasing risk" of blackouts. - just like he said the last time.

Ofgem's report has criticised the effectiveness of competition.

The big six - SSE, Scottish Power, Centrica, RWE Npower, E.On and EDF Energy - account for about 95% of the UK's energy supply market.

The Ofgem report finds "possible tacit co-ordination" on the size and timing of price rises, but does not accuse the major energy firms of colluding over prices.

so we only have to wait 18 months

what a pity they didn't start 18 months ago...

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