EU to investigate high electricity prices

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The European Union is set to start an investigation into electricity prices following a rise in the number of complaints.

Yesterday (February 2nd), the EU's commissioner of consumer affairs Maglena Kuneva said she would look into the price of electricity in all 27 nations in the EU to see if consumers are getting a fair deal.

She said that a report covering 20 goods and services sectors found that people were most unhappy with the retail electricity market.

"Less than two thirds of consumers are satisfied with their energy supplier," she said.

I don't see the need for legislative action, but I clearly see a step forward on enforcement everywhere to make sure consumers can choose from more than one supplier," she added.

Meanwhile, supply concerns have already pushed up the cost of wholesale gas as the cold weather reduces reserves at Britain's biggest storage site to its lowest level in six years.

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