Pre-payment Meters a Good Deal???

BBC Business News - Energy companies 'exploit poor'

Energy companies have been accused by an industry watchdog of exploiting some of the poorest people in society. Customers with pre-payment meters are paying hundreds of pounds more for electricity and gas than those with access to the cheapest tariffs.

According to Energywatch, some people cannot take advantage of lower tariffs because they do not have bank accounts.

Customers on the meters are charged an average of £195 more a year than those paying by direct debit, it says. In some cases, customers using meters have been found to pay as much as £304 more a year.

The cheapest tariffs are typically available to those who apply online and pay by direct debit.
'Morally bankrupt'

Many consumers prefer to use pre-payment meters to pay for gas and electricity.
It allows them to budget and to pay as they go along rather than face an unwelcome bill. But others have no option.

"That they should ramp up the rates and exploit those with no access to alternative payment methods is morally bankrupt," said Energywatch chief executive of Allan Asher.

The industry regulator Ofgem says companies install pre-payment meters when a customer has difficulty managing their energy bills. They are common in rented accommodation and holiday homes. There are 3.5 million electricity and 2.2 million gas pre-payment meters in Britain.

More meters

Energywatch claims that the number of meters being installed each year has been rising due to soaring energy bills.

Some 580,000 pre-payment meters were installed in 2006. Energywatch claims that 63% were installed by companies to recover debts, which would limit the ability of those households to switch to cheaper suppliers or payment methods. The industry also argues that pre-payment tariffs tend to be higher because of the expense of maintaining the meters and the payment system.

Ofgem calculates that the additional cost of providing gas or electricity by pre-payment is £85 per household.

But according to Energywatch, even after these costs are taken into account, the industry is making close to £300m a year in revenues from customers on pre-payment meters.

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Scottish Power & NPower follow Suit!

Scottish Power has raised it's gas prices by an average of 34% and electricity price by 9 from Monday September 1st.

NPower is doing the same as of today with gas up an average 26% and electricity 14%

The follows close on the heels of E.On, British Gas, EdF and Scottish and Southern Energy.

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Will gas prices mean a rate increase?

BRITISH Gas owner Centrica said yesterday it would raise gas prices by a record 35 per cent and electricity prices by 9 per cent as it passes on rising energy costs to householders.

The country’s largest energy supplier, with 16m customers, said the move would take place immediately – after revealing its half-year operating profits from its residential gas business plunged 69 per cent to £166m from a year ago.

Centrica’s price hike comes just a few days after rival EDF Energy put up gas prices by 22 per cent and electricity prices by 17 per cent, with other power firms expected to follow suit.

British Gas managing director Phil Bentley said: “We very much regret that we have had to make this decision at a time when many household budgets are already under pressure.”

Soaring energy prices have cost British Gas an extra £2bn over the last year, leading it to pass on costs to consumers. Analysts said these hikes may further stoke inflation, increasing the pressure on the Bank of England to hike interest rates at a time when it is also trying to head off recessionary pressures.

Capital Economics economist Paul Dales said if other energy suppliers mirror these increases the consumer price index would rise by 0.6 per cent, pushing it from 3.8 per cent to 4.4 per cent in August. Dales said: “The news that British Gas became the second utility supplier to raise its price means that inflation is likely to rise further and faster then we previously expected.”

This could spell further bad news for homeowners and investors looking to renew their mortgages.

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Hikes raise concerns over fuel poverty

Average household British Gas bill will rise by £400 to more than £1,300 a year.

THE latest round of energy price hikes has piled further pressure on household budgets.

The average British Gas bill will rise by £400 to just over £1,300 a year after it increased gas and electricity prices by an average of 35 and 9 per cent respectively, following a similar move last week by EDF.

ScottishPower, Eon, Npower and Scottish & Southern Energy – set to follow suit in the next few days, households across the UK face steep fuel price increases.

For every 10 per cent increase, it's estimated that 400,000 more households fall into fuel poverty (defined as when more than 10 per cent of household income is spent on fuel bills).

Energywatch Scotland estimates that even before the latest rises, about 650,000 Scots households were below the fuel poverty line. But while alleviating the strain entirely is unrealistic, it's still possible for most households to ease the burden.

Regardless of price rises, customers can save money by switching to the best deal on the market. The average customer who has not previously switched supplier can save around £250 a year, claims Confused.com.

Switching is a simple and quick process. On most switching sites, you need to enter your postcode and various details of your present current gas and electricity bills to get a list of the tariffs available in your area.

The list will typically include price, savings, power ratings and the type of package (such as dual fuel or capped) and you can then apply online for the best deal.

With prices on a long-term upward trend, capped or fixed-rate deals offer protection from future increases. Nearly three million British Gas customers are unaffected by the latest rises, either because they are locked into fixed-rate deals or they are among the 340,000 customers considered vulnerable and, therefore, shielded from price hikes until 2009.

"While online tariffs still offer the market-leading deals, these products are variable and are at risk to further price hikes," said Scott Byrom, utilities manager at comparison website money supermarket.com. "For those less willing to gamble, a fixed tariff is by far the best option."

However, Byrom added that with prices rising and providers, including ScottishPower, taking attractive fixed-deals off the market, those on offer now may not be available for long.

Fixed-rate tariffs can be up to 15 per cent more expensive than variable tariffs, but with other suppliers likely to follow British Gas with hikes of up to 35 per cent, they represent a good deal.

Providers yet to announce price rises that still have fixed or capped rates on offer include Eon and ScottishPower, although these might disappear quickly, warned Andrew Hagger, communications manager at Moneynet.co.uk. "You will find that most energy suppliers will offer their lowest variable prices if you opt for a combination of online billing and dual fuel," Hagger added.

The latest increases from British Gas, described by energy helpline.com as the "biggest energy price rise in history", mean it has the most expensive standard tariff on the market, at £1,300 a year or £110 a month. But it still has the most competitive deal across the whole market, with the Click Energy 5 tariff. At £845 a year this saves households £40 a month compared with the standard rate.

But such savings are increasingly insufficient and the latest round of increases sparked calls for more help for vulnerable households. "It looks as if it's set to be a long, hard winter, and there is always the concern that the elderly will be scared to put their heating on, which could have serious consequences," said Hagger.

"The government needs to do something to reassure pensioners and review the level of winter-fuel payments in light of these astronomical price hikes."

VULNERABLE ARE UNABLE TO ACCESS THE BEST DEALS

One of the chief weapons against energy price hikes is switching to a better deal.

But this isn't always an option for households below the fuel poverty line – of which there are at least 650,000 in Scotland, according to Energywatch – as those with energy debts cannot switch.

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UK gas prices to soar 35pc

British Gas owner Centrica says it will raise gas and electricity prices for UK households by 35 per cent and 9 per cent respectively, citing rising wholesale gas prices.

The company, the biggest household supplier in the UK with over 16 million customers, said profits at its British Gas Residential unit had fallen 69 per cent in the first half, while wholesale prices for the coming winter are up nearly 90 per cent on the previous year.

Centrica shares rose 1.5 per cent to 314.75 pence, valuing the business at 11.7 billion pounds ($24.36 billion).

"We very much regret that we have had to make this decision at a time when many household budgets are already under pressure," British Gas managing director Phil Bentley said in a statement.

He added that the firm would be contacting all its customers to show how they can save energy to offset the price rises.

The bill hikes will come in with immediate effect.

Centrica is the second of the six major suppliers to the UK market to raise prices in less than a week, after French supplier EDF Energy hiked gas and electricity bills 22 per cent and 17 per cent respectively on Friday.

The other four are expected to follow suit sometime before the winter months.

They are RWE-owned nPower, Iberdrola-owned Scottish Power, E.ON UK, and Scottish and Southern Energy.

The trend of repeated rounds of price hikes by the main suppliers was criticised in a report by British members of Parliament on Monday, which said the market did not operate efficiently and that it was easy for companies to predict what their rivals were going to do.

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British Gas provokes fury with biggest ever price rise

35% hike comes as parent company prepares to announce £880m profit

British Gas yesterday increased the pressure on household budgets after announcing the biggest ever increase in gas prices for its 16 million customers.

The 35% rise in gas bills was blamed on higher wholesale costs but came just hours before British Gas's parent company, Centrica, was due to reveal profits of £880m for the first half of the year.

Consumer groups reacted with anger to news that will dismay every gas-using household in the country. The move is expected to send another 1 million families into fuel poverty if replicated across the industry.

EDF Energy, one of the other five major suppliers, announced a 22% rise in gas prices last week.

Adam Scorer, of the consumer group Energywatch, said he was surprised by the increase. "I'm not sure that many consumers will be able to fully take in the news that their gas bills are going up by over a third," he said.

Help the Aged said it was a "disaster" for the millions of pensioners already struggling to heat their homes.

From today, British Gas's 15.9 million customers will be paying 35% more for their gas, and 9% more for electricity.

The company said the average dual fuel customer who was paying £913 for their joint gas and electricity bills at the beginning of 2008, has seen them jump by more than £400 to £1,317 - this at a time when many households are struggling to pay increased petrol and food bills.

The company said it would protect the most vulnerable 340,000 customers, most of whom live on benefits, from the increase. The 2.1 million customers who signed up for capped products also escape the increase, for now.

British Gas managing director, Phil Bentley, defended the price hike.

"We very much regret that we have had to make this decision at a time when many household budgets are already under pressure. The simple fact though is that we have entered an era of unprecedented high world energy prices. The only answer to cope with higher energy prices, I'm afraid, is for all of us to be more energy efficient."

Bentley said profits for the retail arm of the energy giant Centrica were down by 69% to £166m for the first half of this year. However, industry analysts noted these figures were in comparison to the bumper £577m profit the company announced for the same period last year.

Scorer warned that customers may be looking with considerable interest at the Centrica profit statement today.

"It is now an absolute imperative that government directs the European competition authorities to explore every avenue that might return some sanity to the gas price," he said.

Following EDF's price rise on Friday, the remaining four big energy suppliers are expected to follow in the coming weeks. All have claimed that the price of wholesale gas for delivery this winter has jumped 89%.

In recent months energy prices have become a huge political issue. The government has been forced to rip up its targets on fuel poverty after admitting they are no longer achievable. Earlier this year Gordon Brown travelled to Saudi Arabia in an effort to get production increased, and to ease petrol prices that have also risen by a third.

The Liberal Democrat leader, Nick Clegg, said the British Gas hike would be "devastating" for many families, particularly the elderly and vulnerable.

"The announcement may have been made in a hot spell in July, but when winter comes round thousands will be forced to choose between heating their homes and cooking their meals.

"Energy companies are benefiting from a £9bn windfall yet continue to hike up their prices on the government's watch. This is unacceptable."

The shadow energy minister, Charles Hendry, said: "The government has not done enough to improve energy efficiency in the home, they have not built sufficient gas storage and they haven't succeeded in negotiating an open market across the European energy sector.

"As a result of this, people are in for a desperate time this winter, as millions of families will face real hardship and an extra million more people are likely to join the 4.5 million already in fuel poverty."

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British Gas announces huge price rise for households

Some 16 million customers of British Gas face huge increases in their bills after the country's biggest home energy provider announced price rises of up to 35 per cent yesterday.

From today, British Gas is raising the price of its gas by 35 per cent, while customers buying electricity from it will pay 9.4 per cent more. Households who buy both services from the utility will see their dual fuel bills rise by 25 per cent.

The increases mean the average household's dual fuel bill will rise from £1,055 a year to £1,322.

Energy analysts pointed out that before the 15 per cent increase in costs implemented by British Gas in January, the typical household was paying £912 a year. Yesterday's price rise means British Gas's bills have now risen by 45 per cent so far this year.

However, the energy group said it had no option but to raise its prices following an increase in the cost of gas on the wholesale markets of almost 90 per cent since last winter.

"We very much regret that we have had to make this decision at a time when many household budgets are already under pressure," said Phil Bentley, the company's managing director. "The simple fact is, though, that we have entered an era of unprecedented high world energy prices."

Centrica, British Gas's parent company, owns substantial gas reserves, but only supplies a quarter of its retail arm's needs and is, in any case, prevented by regulators from subsidising the unit's prices. The company is due to unveil its interim results in full today, but revealed last night that profits at British Gas fell to £166m during the first six months of the year, 69 per cent down on last year's figure.

Mr Bentley said that without today's price increases, British Gas would lose several hundred million pounds in the second half of the year.

The company is desperate to refute accusations that it is profiteering, particularly in the face of growing calls for a windfall tax on the energy industry, and yesterday reiterated its promise to spend £43m over the next 12 months on "fuel poor" customers struggling to pay their bills.

British Gas also promised it would make no further increases this year to the bills of customers on its standard tariffs.

But analysts said the company might have to make further price increases early in 2009 and warned that its main rivals were certain to announce similar price increases for their own customers.

Aside from British Gas, of the next five biggest home energy suppliers in the UK, only EDF has so far raised its prices this summer, announcing increases of up to 22 per cent last week. Scottish & Southern has already warned that higher bills are imminent, while ScottishPower, E.On and npower are expected to fall into line within weeks.

"The difference between the main suppliers on price has been and will remain very small," said Joe Malinowski, the chief executive of The Energy Shop. "There is no question that the other providers will follow these moves."

Mr Malinowski expects most providers, including British Gas, to raise their prices again in January or February of next year unless there is a substantial fall in the cost of wholesale gas in the meantime.

The soaring cost of fuel bills has prompted calls for the Government to review regulation of the energy industry, the structure of which was heavily criticised by MPs sitting on the Business and Enterprise Select Committee this week. Ministers are also under pressure to do more to help low-income households caught out by the price rises.

However, energy companies insist that Britons pay lower home energy bills than consumers in most other countries in Europe. The most recent figures from the Department of Business and Enterprise show that, at the end of 2007, UK domestic gas prices were the fourth lowest in the European Union and electricity prices were the eighth lowest. While prices have risen since the end of last year, there have also been increases on the Continent.

Nevertheless, Brendan Barber, the general secretary of the Trades Union Congress, called for a rethink of the Government's energy policy. "The UK's coal reserves must be allowed to play a bigger part in our energy mix," he said. "Coal would give UK consumers and industry more stable and secure energy prices, rather than the volatility we are now witnessing."

Gordon Lishman, the director-general of Age Concern, said: "It is absolutely unacceptable that around 2.25 million pensioner households are now living in fuel poverty, and thousands more will soon be facing the same fate. As an emergency measure to help alleviate the problem this winter, the Government and energy companies should be working together to offer 'fuel vouchers' to the poorest pensioners."

Economists warned that the latest round of price rises would also be a further blow to the Bank of England's attempts to bring inflation back to its 2 per cent target rate. Philip Shaw, an economist at Investec, said energy suppliers were increasing bills by more than expected, making it likely that inflation would rise even more significantly above the current level of 3.8 per cent.

"[This] increases the chances that inflation will hit 5 per cent over the autumn," Mr Shaw warned. Such a rise would prompt calls for a rise in interest rates, putting additional pressure on many households' budgets.

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U.K. report claims price collusion by energy companies

A parliamentary committee's report claims that the U.K.'s six largest energy companies were able to keep household fuel bills artificially high while the industry regulator stood by. Members of the Commons Business and Enterprise Committee accused the companies of conspiring to keep prices high but stopped short of alleging that they rigged prices. The companies instead took advantage of operating in a world of minimal price competition, the committee said. Times (London), The (07/28)

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Rising prices hit poorest hardest!

A gas and electricity company is to buck the trend of rising energy prices
by offering cheaper bills to its poorest customers.
Ebico has announced it will offer the same savings to the less well off that companies like EDF offers to direct debit customers. This comes in response after a statement by Mr Wicks, the Health Minister, saying that many households are paying energy tariffs that are unjust and totally disproportionate.
The not-for-profit company which is committed to tackling fuel poverty will
offer its customers using prepayment meters the same savings.

An estimated 2.3 million homes have a gas prepayment meter and 3.5 million households use an electricity pre-pay meter who are far more likely to be on low incomes than customers using other payment types.* It looks as if something is finally be being done to stop this terrible injustice, said Phil Levermore, Managing Director of Ebico, Mr Wicks comment shows that the big six energy companies will have to lower their prices for households using prepayment meters. As for now, we cant stop energy prices rising, but we can offer prepayment metered customers a deal that gives them the sort of cost savings that, with all the other suppliers, youd have to set up a monthly Direct Debit to get.
*Energywatch. 2007 Energy Consumers Survey

Ends
Notes to Editor
For more information contact Ellie Tooze: 01993 225 061

1. Three and a half million households in the UK pay in advance for their electricity by using pre-payment meters. Over two million pay for gas in the same way. Pre-payment meters are disproportionately used by the less well-off with 35% of single parents pay in advance for their electricity as do 36% of unemployed persons. Energywatch figures show the average dual fuel direct debit customer pays £772 a year for gas and electric, while a prepayment customer pays £967 a difference of £195.
2. One in six British households is experiencing fuel poverty, the highest for almost a decade.
Each winter, fuel poverty is responsible for 20,000 to 50,000 premature deaths in the UK.
www.berr.gov.uk
An estimated 30% of lone pensioners are and 7% of older couples are living in fuel poverty. Energywatch Annual Report, 2007.
Energy efficiency of houses is measured by the Standard Assessment Procedure (SAP) which assesses insulation and heating, rating from 0 (poor) to 100 (good). A rating above 60 indicates good efficiency standard. The average rate is 51.4, and 82% of households living in fuel poverty live in housing with an SAP under 50. Fuel Poverty and Elderly Report
Prepayment customers have lower incomes than others; 40% were in the two lowest deciles in England in 2005/6 compared with 20% of all customers and less than 5%were in the top 2 deciles. In 2006 19% of those paying for both fuels by prepayment were fuel poor compared with 6% for direct debit customers an incidence of fuel poverty more than 3 times as high amongst prepayment compared with direct debit. The incidence of fuel poverty amongst standard credit customers is also fairly high. FPAG, 2007

3. Ebico Ltd is a not for profit company limited by guarantee and committed to those on low incomes. Ebico, the only not-for-profit domestic energy company in the UK, has been making a real difference to low income households for nine years now. They launched their first product, EquiGas, back in 1999. EquiGas was an innovative domestic gas tariff that delivered lower prices to pre-payment meter (ppm) and payment-plan customers predominantly lower income households by enabling customers who paid by Direct Debit to share the savings related to their chosen payment method. Based on the huge success of EquiGas, Ebico then launched EquiPower in 2002 to challenge exactly the same issues in the domestic electricity supply market. EquiGas and EquiPower are the fairest domestic gas and electricity tariffs in the UK and are competitively priced so that, irrespective of how they pay their bills, many customers can cut their energy bills by switching to Ebico. Thirty thousand UK households have now switched to Ebicos fairer tariffs.

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U.K. May Have to Open Antitrust Probe of Utilities, Panel Says

July 28 (Bloomberg) -- The U.K. government should consider pursuing an antitrust investigation in Britain's wholesale gas and electricity markets, as retail prices head ``significantly'' higher, a panel of lawmakers said.

The Business and Enterprise Committee in the House of Commons, which includes members of Parliament from the nation's three main political parties, concluded in a report today that the U.K. has higher natural gas prices than other European countries. The panel said this suggests a lack of competition, though it didn't find proof of price-fixing.

``Just because we have found no evidence of collusion does not mean we have given the Big 6 energy companies a clean bill of health,'' said Peter Luff, a lawmaker from the Conservative opposition who leads the committee. ``Far from it.''

The report reflects mounting pressure on politicians to tackle record energy prices as slowing economic growth and accelerating inflation squeeze household budgets. In the U.S., the Senate is debating a bill to curb energy-market speculation.

The U.K. lawmakers said Ofgem, the industry regulator, should have first crack at reining in the industry. If that doesn't curb prices, then the Competition Commission, an independent agency that can order companies broken up, should step in.

Any probe into wholesale gas prices would send a ``chill'' through the energy industry and lead to reduced investment, Richard Guerrant, a director of European operations for Exxon Mobil Corp., told the committee when he testified last month.

Committee Recommendations

The panel has no authority to enforce its recommendations, which the government and regulators are free to ignore. The government will respond to the report in the next few weeks.

Ogfem, the regulator, said in a statement in ``welcomed'' the committee report, saying it will contribute to its own ongoing investigation into a link between wholesale and retail energy pricing.

U.K. gas prices have risen more than fourfold to about 60 pence a therm from a low in April last year of 13.5 pence a therm. Gas for delivery this winter reached an all-time high of 105 pence a therm last month.

The report said producers' unwillingness to sell gas on forward markets, which let buyers and sellers lock in prices at delivery in the future, was pushing prices higher. It urged Ofgem to investigate the lack of price transparency in forward markets.

Rising Prices

The lawmakers' committee, which monitors the performance of the government on energy matters, said it expects gas and electricity bills to rise ``significantly'' in the near future.

Electricite de France SA's U.K. unit on July 25 raised electricity and natural gas bills for households because of rising wholesale costs. Power bills will be increased by 17 percent and gas charges by 22 percent from today, according to company spokesman Rajan Lakhani.

The lawmakers urged Ofgem to show a ``greater sense of urgency'' in its work and to ``look again'' at the way wholesale markets work in the U.K. The report said a competition inquiry should be avoided if possible.

``Our view is that changes can best be made through improving market design, by taking specific regulator steps and by continue to work for liberalization of European markets,'' Luff said. ``Such an approach is more likely to bring real and lasting investment the U.K. needs so urgently.''

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Household bills will suffer from energy price hikes, MPs say

MPs have called for an urgent address of problems caused by rises in gas and electricity bills, the BBC reports.

The Business and Enterprise Select Committee said that energy price increases will impact seriously upon households and that thousands of manufacturing jobs could be lost if UK prices stay higher than comparative ones in Europe.

Its inquiry found that the UK energy market is not as efficient as it could be, but there was no evidence to suggest that major firms are colluding to keep prices high.

Still, committee chairman Peter Luff commented that this did not mean the report had given the main energy companies "a clean bill of health - far from it".

EDF Energy raised gas and electricity prices by 22 per cent and 17 per cent for domestic and small business customers last week.

Financial website Moneyexpert.com described the rises as "a kick in the teeth for their 7.9 million customers" and advised EDF customers to "start looking around for a better deal".

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EDF energy price hike

Unable to absorb the price of gas, EDF is forced to raise their wholesale gas and electricity prices.

EDF Energy will increase gas prices by 22% and electricity by 17%, resulting in customers on the EDF duel fuel tariff to pay at least £3.97 a week for energy. The raise in energy prices is to be blamed on record oil prices and unexpectedly high prices for coal and electricity, according to EDF. Other energy companies are predicted to mimic EDF and increase their energy prices.

Now EDF has announced its tariff changes, other energy companies will follow suit “in very short order”.

It could be just a few weeks before every big gas and electricity company in Britain has hiked prices in line with EDF’s increases -- and it’s unlikely that energy price inflation will stop there.

Insiders all agree that we should expect to see a further round of rises either late this year or in early 2009, possibly taking the total increase in our energy bills to around 50%.

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Gas Bills Could Rise by up to 70%!!

The Telegraph reports today that gas bills could rise by 70 per cent to hit more than £1,000 over the next few years because of soaring global oil prices, according to a report produced by analysts on behalf of British Gas.

The report, written by Eclipse, a well-respected group of Norwegian energy experts, makes clear that Britain faces an acute shortage of cheap energy. Consumers, who have already seen their energy bills shoot up by 15 per cent this year, will have to get used to permanently high prices, the report warns.

Oil has risen from below $100 a barrel to touch an all time high of $147 a barrel last week, as demand from China and India combined with fears of a new conflict in the Middle East sent the price upwards. It is estimated that Britain will import 40 per cent of all the gas it needs this year. The report calculates, based on oil staying at roughly $140 a barrel, the cost of gas in the UK would increase by 70 per cent, "over the next few years".

The report adds: "This would raise annual gas bills for a typical domestic customer from around £600 to over £1,000 per annum – if oil prices rise to above this level then this would lead to further increases in gas bills." The six major energy firms have already increased both their gas and electricity tarrifs this year, by an average of 15 per cent. Experts forecast that bills will have to rise at least once more this year and could go up on two separate occasions.

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To ensure their prices remain competetive, they compare them every month against British Gas, our regional electricity supplier and the average of the cheapest direct debit tariffs available from each of the "Big 6"suppliers, on a like for like basis.

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energywatch statement on threat of more price hikes!

Allan Asher, energywatch Chief Executive, said: "There is no shortage of gas, yet consumers are being bombarded with dire predictions of huge price rises.

"There is a simple choice for Government and regulators. Meekly accept that ever-increasing gas prices are inevitable or challenge the market to provide information on every aspect from production levels to actual commodity trades to retail prices and profits.

“If it’s not about supply and demand, it's something else and we need to know what that something else is.

"Next week MPs from the BERR Select Committee will hear evidence of what's wrong in the energy market.

"energywatch will say that the structure of the GB markets does not promote effective competition, that there are too many no-go areas when it comes to information disclosure and that the exposure to the European energy markets punishes GB consumers with high prices.

"Ofgem, the FSA, the European Commission and others all have jurisdiction over different aspects of these markets. There is an urgent need to set out and co-ordinate the approach and priorities for enquiry. It may well be that the most effective vehicle will be through the Competition Commission.

"Higher energy prices will be catastrophic for the 4.5million fuel poor and those households on the brink of fuel poverty. At the same time that we examine the market, we must be raising the level of support available to the most affected households.”

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