When the boss of the energy watchdog Ofgem faced MPs this month, he made a startling admission. Dermot Nolan said the regulator “should have done better” in protecting low-income households from extortionate gas and electricity prices. He is right: why should the most vulnerable pay more than they can afford to heat their homes? The government’s planned price cap cannot come soon enough. Nolan should now switch his attention to the commercial market. For too long, small companies – the business equivalent of vulnerable people – have suffered disproportionately at the hands of energy suppliers and unscrupulous brokers. The Competition & Markets Authority (CMA) estimates that small businesses pay about £500m more a year than they would if the market functioned properly.
Sun Times 21st Jan 2018 read more »