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Major energy firms 'not investing' in ways to bring prices down - 25/04/2012

The UK's Big Six energy firms have failed to use their profits to invest in ways to ensure people will be able to get cheap electricity in the future.

This is according to a new report by Bloomberg New Energy finance on behalf of Greenpeace, which stated finding ways to reduce the country's reliance on gas will be essential if prices are not to spiral ever higher in the coming years.

However, the research found four of the Big Six suppliers - EDF, British Gas, E.ON and npower - have used gas as the source for at least two-thirds of their new power capacity since 2006.

"It is crucial that the Big Six energy utilities invest the money we pay them into reducing our dependence on burning gas," Greenpeace said, which means putting renewable energy and efficiency measures at the heart of their plans.

However, the study did note Scottish Power has performed well in this area, with 100 per cent of its new supplies coming from green power.

This week, a YouGov poll for Friends of the Earth revealed 85 per cent of Brits are in favour of using clean renewable energy instead of gas.

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