Large energy companies 'would exploit consumers without regulation'

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An expert has claimed that the current energy market in the UK is evidence that suppliers would exploit consumers without firm regulation.

The editor-in-chief of advice website EnergyInvestor, Chris Gilchrist, has stated that politicians have a responsibility to call regulatory bodies to account for not taking action against increasing gas and electricity tariffs.

He added that consumers should also do more research into the deals available to them to ensure they are getting the best value for money from energy providers.

"Consumers prefer to manage their finances and major bills without hassle," he explained.

"But if they want to get the best deals, they now have to become full-time guerrilla shoppers engaged in continual war against the large utility and telecom companies."

Since the start of 2008, ScottishPower, EDF Energy, npower, British Gas and E.ON have all increased their domestic gas and electricity prices.

The other 'Big Six' company in the UK, Scottish and Southern Energy, is planning to review its tariffs at the start of British Summer Time.

Click here to run an energy price comparison, and see if you could be paying less for your gas and electricity.

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