Dual fuel prices to be investigated

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Ofgem has announced it is to begin a thorough investigation of dual fuel prices in the UK, following a host of hikes by leading providers.

The organisation's latest research shows the margin on a standard energy tariff has risen from an average of £65 to £90 since September.

"We will go beyond our usual quarterly reports on prices ... Greater transparency in the market is good for consumers, investors and for the energy industry as a whole," says Ofgem's chief executive Alistair Buchanan.

With the UK set to face up to a bill of £200 million over the next decade for investment in the energy market, consumers could be worried about further increases in their monthly invoice.

However, the upcoming report will aim to discover whether customers need more protection from price rises and take appropriate action.

Earlier this week, Age UK Enterprises offered a number of tips on how to reduce energy bills, including adding insulation to homes.

Posted by Anne Yevel

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