Ofgem 'has failed to protect the UK from increasing business gas and electricity prices'

Ofgem 'has failed to protect the UK from increasing business gas and electricity prices'

Energy regulator Ofgem is under pressure amid concern that it has failed to protect the UK against ever-increasing business gas and electricity prices.

It has been widely reported that the recent cold snap, coupled with Norwegian pipeline supply issues, has seen gas prices rise significantly on the wholesale market.

According to financialadvice.co.uk, these price hikes will in due course filter through to the consumer market.

However, despite its warnings the regulator has failed to introduce any new price regulations or price restrictions on UK energy supplies.

"Protecting consumers is meant to be Ofgem's first priority, but so far the regulator has been shying away from tackling the big issues," Dr Fiona Cochrane, a senior policy adviser for Which?, told the Times.

Dr Cochrane added that Which? Would continue to urge Ofgem to take action to ensure business gas and electricity customers did not lose out.

Businessgasprices.com is the UK's leading business price comparison and switching service. Find out how you could get the cheapest business gas prices and business electricity prices

25th January, 2010

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