Govt rules out inquiry into major energy suppliers - 15/04/2010
The government has ruled out an inquiry into the discrepancy between price cuts implemented by major energy suppliers and falling wholesale prices.
Junior energy minister David Kidney said that although there had been consistent energy price rises since 2004, a Competition Commission referral would cause delays in infrastructure investment, reports the Press Association.
He explained that the government is adapting policies to help reduce the number of people living in fuel poverty in the UK, including the Energy Bill, which will introduce social price support for the poorest households in the country.
"I don't think that what's needed at the present time is a referral to the Competition Commission for the whole energy market," Mr Kidney said.
"This is a time when we need sustained investment in the future of our infrastructure of this country and that would only delay it."
Official figures show that one in four homes spend ten per cent or more of their income on energy bills and are considered to be in fuel poverty.
If you want to find out more about gas and electricity and how you could save up to £378 in minutes, click here.
Save up to £300 on your gas & electricity bills at energyhelpline.com
Compare prices from all energy suppliers to find your best deal