Which? response to Ofgem’s proposals to open up the energy market

Which? executive director, Richard Lloyd, said:

“Wholesale energy prices account for more than half of the costs of rapidly rising energy bills so efforts by Ofgem to make the markets more competitive are welcome. But much more radical action is needed to fix the broken energy market and to keep prices in check. We want Ofgem and the Government to conduct a more fundamental review into whether the wholesale energy markets are fit for purpose. This should look at whether the structure and dominance of the largest companies is hampering competition in these markets and undermining fair prices for consumers.”