Commenting on Npower’s increase in profits, Which? executive director Richard Lloyd said:
“At a time when spiralling energy bills are consumers’ top financial worry, people are bound to question whether they’re paying a fair price when they see a 25% profit increase from one of the big six energy companies.
“The Prime Minister promised that energy suppliers would have to put their customers on the cheapest tariffs but Ofgem’s recent proposals for simpler tariffs do not go far enough to keep prices in check. The Government should take more radical action to provide not just simpler but fairer bills.
“Prices will only be kept as low as possible if there is more effective competition and switching between energy companies. For this to happen the price of every tariff should be presented in a clear, consistent and simple way, through single unit prices like those for petrol and diesel, so people can easily spot the cheapest deal — not just with their current supplier but across the market.”