'Big Six' energy firms to face major competition inquiry
Energy regulator Ofgem has called for the "Big Six" gas and electricity providers to face a full-scale competition inquiry.
Centrica: Uncertainty could damage energy investment
The chief executive of Centrica, which owns British Gas, has welcomed the major competition inquiry into energy firms but said a lengthy review could damage investment when the market's "security is being seriously challenged."
Sam Laidlaw said: "Anything that clears the air and helps rebuild trust in the industry must be a good thing. Britain's energy market is highly competitive and we believe that a full independent review by a respected regulatory authority would demonstrate precisely that.
"Competition is working, providing choice for consumers and some of the lowest prices in Europe.
"We hope that a lengthy review process will not damage confidence in the market, when over £100 billion of investment in new infrastructure is needed.
"A prolonged period of uncertainty could damage investment at a time when Britain's energy security is being seriously challenged."
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Break-up threat to Big Six energy firms
Regulators have called for an investigation into the UK's Big Six energy suppliers amid soaring household bills and rocketing profits.
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Centrica 'refutes totally' idea 'Big Six' are a cartel
Ofgem's finding that aspects of energy firms' behaviour "would appear to be consistent with tacit coordination" has been denied by Centrica.
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Inquiry a significant moment but it will take two years
The inquiry into the 'Big Six' energy firms is a significant moment, but don't hold your breath, it will take the best part of two years.