Saturday, 15 October 2011

Energy companies' profit margins soar

Britain’s big energy companies are making profit margins of £125 a year from every household in the UK, up from just £15 in June, according to Ofgem, the energy regulator.
The eight-fold increase follows recent above-inflation rises in household energy bills and has led to accusations that the energy firms are profiting from consumers’ misery.

Ofgem, which said that the average annual gas and electricity bill is now £1,345 per household, has called for “radical reform” in the way that the so-called big six energy companies deal with their customers. The regulator has instructed the companies to make it easier for consumers to compare prices and switch suppliers

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