The Government’s pledge to curb household energy prices risks sabotaging the retail market leaving consumers worse off in the long run, a group of former regulators has warned. The UK’s largest energy suppliers are braced for what could be the industry’s most significant political hit yet following a decade of heated debate over rising energy bills and low levels of consumer switching. Prime Minister Theresa May last week vowed to “step in”, after a string of tariff hikes, because the market is “manifestly not working” for consumers. Mrs May pointed out that energy prices have risen by 158pc in the last 15 years, and the “vast majority” of consumers, especially those on low incomes, are still on the most expensive tariffs. Ahead of the crackdown, which is expected within weeks, a group of f ormer energy regulators has warned the Government against taking a heavy-handed approach which could undermine the market and leave customers to pay the price.
Telegraph 22nd March 2017 read more »