Energy regulator Ofgem has welcomed a Select Committee report on energy profits, which found that the regulator was not doing enough to ensure that energy company profits are "transparent".
Ofgem's senior partner for markets, Rachel Fletcher, said:
We share the committee's goal of restoring consumers' trust. This aim underpins our reforms which seek to get energy companies to deal with consumers in a simple, clear and fair way.
We agree with the committee that suppliers have been poor at communicating with their customers. That is why Ofgem has taken the lead in pursuing transparency across all sections of the energy market.
Ofgem has made energy companies produce yearly financial statements, which have been reviewed twice by independent accountants and found to be fit for purpose.
More top news
High-flyer who oversaw voting process is named as the man responsible for the epic mix-up over the Best Picture winner at awards.
Over two million people who have taken out landline-only contracts with the telecoms giant could see bills slashed by "at least £5 a month".
Malaysia says the women will face a death sentence if convicted of carrying out the murder using a deadly nerve agent.