Ofgems decision to refer the sector to the new Competition and Markets Authority (CMA) could lead to the so-called big six firms being broken up. The regulator charted a quadrupling in energy company profits between 2009 and 2012 - a performance disputed as inaccurate by Centrica, the owner of the countrys biggest household supplier, British Gas. Ofgems State of the Market Assessment accused suppliers of consistently setting higher prices for consumers who have not switched, suggesting households were not engaging with the market because firms were not trusted to be open and transparent. The review also reinforced concerns about barriers to entry for independent suppliers. It found that retail profits soared from £233m in 2009 to £1.1bn in 2012 ( WHAT IS THE RATE OF GROWTH AND WHY THEY ARE COMING WITH INCREASE IN PRICE???) and disputed suggestions that profit margins were falling by pointing to expectations of rising industry margins and retail profits this year. Now consumers are protected by our simpler, clearer and fairer reforms, we think a market investigation is in their long-term interests. News of the competition investigation was welcomed by politicians, consumer groups and by some of the big six firms. DO YOU THINK THAT THIS IS TO PROTECT THE CONSUMERS??? IN THE LIGHT OF SSE ANNOUNCEMENT TO FREEZE PRICES FOR 2 YEARS OTHER COMPANIES HAVE TO FOLLOW THE SAME. NOW ON ACCOUNT OF THIS ANNOUNCEMENT THEY ARE PROTECTED. OFGEM IS WITH THE EXPLOITING COMPANIES NOT WITH THE COSNSUMERS. AFTER THE MOCKERY OF PARLIAMENT QUESTIONS TO THE MAJOR ENERGY COMPANIES OFGEM CAME WITH THE FINDING THAT ENERGY COMPANIES ARE CORRECT IN INCREASING PRICES TO ABOUT 9%. THESE ARE ALL GAMES RICH PEOPLE PLAY WITH THE SUPPORT OF THE RICH POLITICIANS. PLEASE DO FOLLOW SYSTEMATIC FINANCIAL RECORDING PRACTICE TO UNDERSTAND YOURSELF HOW BIG COMPANIES CHEAT YOU AND TAKE YOUR MONEY.
Posted on: Thu, 27 Mar 2014 21:59:24 +0000
Trending Topics
Recently Viewed Topics
© 2015