Energy firms facing gas and electricity price review
Posted: Fri Nov 26, 2010 2:32 pmOfgem is to investigate recent energy price rises, as it says they have significantly widened suppliers' profit margins.
The watchdog said that the net profit margin of £65 per typical customer in September was now £90, a 38% rise.
The calculations take into account price rises announced by three of the "big six" suppliers in recent weeks.
Energy UK, which represents the major energy suppliers, said it had "nothing to hide" during a review.
Ofgem will review the domestic energy market to see if more action is needed to protect consumers.
A previous investigation of the market in October 2008 found no evidence of anti-competitive behaviour in the sector.
marvellous being as they have already put the increases on 