Ofgem: Big Six energy firms 'should be investigated'

Energy regulator Ofgem has proposed that the Big Six energy firms should be investigated by the Competition and Markets Authority.

The Big Six energy firms. Credit: PA/PA Wire/Press Association Images

In an open letter to Britain's main energy suppliers, the regulator's chief executive officer Dermot Nolan said they were concerned that companies were "not passing on savings to customers".

He said: "A concern that savings were not being passed on to customers was one of the reasons why we have proposed a referral of the energy market to the Competition and Markets Authority for investigation."

Read: Ofgem writes to energy firms over falling wholesale prices

Advertisement

Ofgem writes to energy firms over falling wholesale prices

Ofgem has called on the Big Six energy suppliers to explain to their customers what impact falling wholesale prices will have on bills, saying the cost of both gas and electricity has been dropping "significantly" in recent months.