Chris Choi

Consumer Editor

Chris Choi is Consumer Editor for ITV News and covers a wide range of economic, industrial and social issues. He delivers some of the most powerful stories for ITV News by getting to the heart of consumer issues, holding businesses to account and interviewing ordinary people directly affected.

  1. Chris Choi

Smaller power firm Ovo squares up to Big Six with 10.4% cut

The Energy Secretary has warned big power firms that they "can't hide", after one of their smaller rivals offered more than double the price cut of the so-called Big Six companies.

Ovo has more than doubled the cut offered by its Big Six rivals Credit: PA

Today's price drop means that while the average customer of the major firms will see a four per cent reduction in gas prices, customers of Ovo will see a drop of 10.4 per cent.

Now consumer groups are urging companies to drop prices further - and extend their reductions to electricity prices.

  1. Chris Choi

British Gas customers 'may not be jumping for joy'

British Gas will have to live with the fact that many of their customers won't be jumping for joy over this news.

British Gas has announced a price fall today. Credit: PA Wire

The wholesale market has been dropping for months, with wholesale costs for the next 12-month contracts down 28%.

In that context, this 5% drop can look a little bit mealy-mouthed.

The remaining big six companies that have not dropped prices yet have not given any firm signals that they will reduce prices.

If you look at when British Gas raised its prices by 35% in 2008, the new tariff came into force with immediate effect.

Today's reduction won't come in until the end of next month - some people will see that as an unfair contradiction.

  1. Chris Choi

Big British retailers face a battle for survival

Tesco is to close 43 stores and its headquarters Credit: PA

This isn't something I'm used to. For years we've reported Tesco expansion. Now it's store closures. Nearly 100 in total either shutting or shelved.

But this story is bigger than that. Today Marks & Spencer also reported poor sales of general merchandise and clothing (though food went very well).

Yesterday Sainsbury's was revealing its own Christmas trading droop.

These big bastions of British retail are taking a bashing. And it comes at a time when they really need to be match-fit for their fight against the newer kids on the shopping block - the likes of Aldi and Lidl.

What next? Shareholders won't like it and profit margins will be under stress but 2015 will bring out the big guns in a supermarket price war that for some retailers could be a battle for survival.

Load more updates