'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.
Martin Lewis: Energy inquiry is 'good but very, very late'
Ofgem's decision to launch a major competition inquiry into the 'Big Six' energy firms marks a "good day but very, very late day", the founder of MoneySavingExpert.com said.
Martin Lewis told Daybreak: "Why now and not five years ago when it could have made a difference?
"Will it mean lower energy prices? I think the hope is a more fluid market will mean relatively lower prices...but don't expect to see your bills coming down by 20 to 30% - that isn't going to happen."
He added: "There's visceral anger that some people in this country have to choose between heating and eating, so I'm glad to see it happen but I do have a little bit of annoyance that there's nothing in this report we didn't know. Why has it taken so long?"
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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.