Which? executive director, Richard Lloyd, said:
“People tell us that rising energy prices are one of their top financial concerns so we would welcome better scrutiny of wholesale energy costs, which makes up more than 60% of consumers’ energy bills. When household budgets are so squeezed, it is only fair that when the wholesale energy price drops, so should household energy prices.
“Ofgem’s first duty is to protect consumers yet we still have an energy market that fails its customers. We want a more proactive regulator that’s willing to take tough action to get a fairer, affordable deal for people now, holding the energy companies to account and driving long term reforms in the interests of consumers.”