Hoorah for Ofgem. This story tells us:

The Energy Watchdog Ofgem has today effectively admitted that the gas and electricity suppliers are out of control by referring the energy market to the Competition and Markets Authority (CMA) for a full investigation.

It recently carried out an assessment of the energy market, along with the now-defunct Office of Fair Trading and CMA, which concluded that competition isn’t working as well as it should for consumers.

The review revealed increasing distrust of energy suppliers, uncertainty about the relationship between the supply businesses and the generation arms of the six largest suppliers, and rising profits with no clear evidence of suppliers reducing their own costs or becoming better at meeting customer expectations.

In other words we’re fed up with soaring bills and more families being pushed into fuel poverty while the energy giants trouser ever-booming profits.

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