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UK: Ahead of market inquiry, study shows energy sector faces uphill battle

 |  November 3, 2013

A recent study shows that the UK’s energy market is the “most distrusted” of all industries, according to consumer watchdog Which?

The study reveals an uphill battle for the energy market ahead of a market inquiry over allegations of price-fixing as MPs look to crack down on high prices and make energy firms justify their pricing behavior.

According to Which?, 59 percent of consumers say they distrust energy companies, higher than the 33 percent of consumers that say they distrust banks.

Prime Minister David Cameron has slammed the market for high prices and the UK’s Office of Fair Trading, energy watchdog Ofgem, and upcoming competition regulator Competition and Markets Authority will all aid in a market inquiry to assess the levels of competition in the market and address concerns of anticompetitive behavior.

Full content: The Information Daily

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