The Scotsman cartoon: Energy investigation
Britain’s Big Six energy suppliers are to face a full-scale competition investigation.
Energy regulator Ofgem said soaring household bills and intensifying public distrust highlighted the need for an investigation which will determine whether the companies are making excess profits - after they quadrupled to more than £1 billion in three years.
Ofgem said yesterday that it wanted the UK’s new competition authority to investigate whether big suppliers should be forced to separate their generation and supply businesses.
The move came as the watchdog published a report showing 43 per cent of consumers did not trust energy firms to be open and transparent, which could prevent them from switching to get a better deal.