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UK: Competition watchdog criticises energy providers for soaring bills

By  |  June 26, 2016

The Competition and Markets Authority’s final report into the sector found energy bills have “far outstripped inflation”, but consumers aren’t getting any more for their money, with customer service levels “deteriorating”.

Complaints about the six biggest providers increased six-fold between 2008 and 2014. These six firms – British Gas, EDF, E.on, Npower, Scottish Energy and Southern Energy – also charged customers 11%-15% more than other providers between 2012 and mid-2015.

In some cases, the big six, which serve 90% of the UK’s 31 million households, were found to be charging customers at least 20% more than they could have paid elsewhere.

The CMA concedes that there were some signs of improvement in 2015, with complaints falling and prices either remaining unchanged, or falling slightly, but says that this isn’t enough.

It has today announced over 30 measures, which it claims could save consumers £1.4 billion a year – some households stand to save at least £300, it estimates.

Full Content: Moneywise

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