Energy secretary promises 'decisive' action against price rises
(ShareCast News) - Business and Energy secretary Greg Clark has warned energy firms that there will be action taken against those who unjustly raise household bills.
Clark told the House of Commons Business, Energy and Industrial Strategy Committee that after meetings with the UK's big six energy providers, there was not sufficient evidence to show they were making efforts to make prices affordable.
A Competitions and Markets Authority Report released last year found that companies were overcharging customers by up to £1.4bn per year.
"We'll publish our response to the CMA report very shortly and you will see... it will take very decisive action to address what even Ofgem the regulator has criticised as being prices that were difficult to justify," Clark told the committee.
The minister described the department's planned response as "muscular", adding that there was an "overwhelming appetite" for action against energy firms.
"The response we'll make will be muscular and will be strong and it will apply to all the companies that are disadvantaging consumers in this way.
"The explanations they gave me have not dissuaded me from the response we'll make as intended."
Many household bills have seen rises in recent months, and further increases are expected from the likes of E.On and SSE later this month