Inquiry 'demonstrates need for energy investigation'

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The recent government inquiry into rising energy prices has demonstrated the need for an investigation into the UK energy markets to take place, according to an industry body.

energywatch has stated that evidence provided by the "Big Six" gas and electricity suppliers gave the Department for Business, Enterprise and Regulatory Reform committee "overpowering reasons" to refer the industry to the Competition Commission.

Allan Asher, chief executive of the organisation, said it had been revealed that consumers are suffering due to the lack of new entrants entering the market, while links between oil and gas prices are also causing issues.

"The way forward in both cases is to direct the competent competition authorities in Britain and Brussels to improve the level of new entry and competitiveness in the GB market and to smash the oil gas link across Europe," he added.

energywatch recently warned that the European Commission is thinking about scrapping plans to introduce protection measures for gas and electricity customers.

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