Unravelit News - energywatch calls for competition inquiry into high energy bills

energywatch calls for competition inquiry into high energy bills

Friday, September 29th 2006

Consumer watchdog energywatch has called into an official inquiry into high prices of as and electricity to settle "whether punishing energy prices in Britain are unavoidable or whether they can be explained".

Allan Asher, Chief Executive of energywatch, adds: "Despite reports that the wholesale price of gas is starting to fall, cheaper domestic energy bills will not follow this year and the market generally shows few signs of genuine competition. Upstream gas producers boast of staggering cash flows, vertically integrated energy companies reap the benefit from inflated electricity prices and new entrants cannot break into the market to compete with the big six [energy suppliers]." "Consumers have had enough of the relentless hammering"

So far, there has been no official response from Ofgem of the government in response to the call.

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