'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.
Energy regulator Ofgem has called for the "Big Six" gas and electricity providers to face a full-scale competition inquiry.
Ofgem said a major competition inquiry into the 'Big Six' energy firms would "once and for all clear the air" and make sure there were "no further barriers to effective competition."
We have today acted to remove uncertainty from the energy market by proposing a market investigation by the Competition and Markets Authority (CMA).
A market investigation will once and for all clear the air and allow the CMA to ensure that there are no further barriers to effective competition.
An investigation would reassure consumers and complement our reforms for a simpler, clearer and fairer energy market.
Regulators have called for an investigation into the UK's Big Six energy suppliers amid soaring household bills and rocketing profits.
Ofgem's finding that aspects of energy firms' behaviour "would appear to be consistent with tacit coordination" has been denied by Centrica.
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.