This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.bbc.co.uk/news/business-33420734

The article has changed 10 times. There is an RSS feed of changes available.

Version 3 Version 4
Energy customers 'paying too much' Energy customers 'paying too much'
(35 minutes later)
Millions of energy customers have been "paying too much for their energy bills" a year-long investigation by the Competition and Markets Authority (CMA) has found. Millions of energy customers have been "paying too much for their energy bills", a year-long investigation by the Competition and Markets Authority (CMA) has found.
Between 2009 and 2013, British Gas, E-On, Npower, EDF Energy, Scottish Power and SSE collectively charged households more than they would have in a competitive market, the CMA said.Between 2009 and 2013, British Gas, E-On, Npower, EDF Energy, Scottish Power and SSE collectively charged households more than they would have in a competitive market, the CMA said.
It found dual fuel customers could save £160 a year on average by switching.It found dual fuel customers could save £160 a year on average by switching.
The CMA has suggested several remedies.The CMA has suggested several remedies.
One measure it is considering, is a transitional price cap, while reforms are made to the energy market.One measure it is considering, is a transitional price cap, while reforms are made to the energy market.
"There are millions of customers paying too much for their energy bills - but they don't have to," said Roger Witcomb, chairman of the energy market investigation."There are millions of customers paying too much for their energy bills - but they don't have to," said Roger Witcomb, chairman of the energy market investigation.
Gas and electricity prices have risen by 125% and 75% respectively in the past ten years, but much of the increase in recent years has been down to environmental and network costs, according to the CMA.Gas and electricity prices have risen by 125% and 75% respectively in the past ten years, but much of the increase in recent years has been down to environmental and network costs, according to the CMA.
And it says that recent reforms by the energy regulator Ofgem to encourage switching - by reducing the number of tariffs on offer - have not had the desired effect.And it says that recent reforms by the energy regulator Ofgem to encourage switching - by reducing the number of tariffs on offer - have not had the desired effect.
To help vulnerable customers, the CMA has proposed that those on pre-payment meters, who are often charged the highest tariffs, should be the first to receive smart meters when the national roll-out gets underway.To help vulnerable customers, the CMA has proposed that those on pre-payment meters, who are often charged the highest tariffs, should be the first to receive smart meters when the national roll-out gets underway.
The CMA has also suggested measures to help businesses get a fairer deal for energy, including prohibiting energy contracts being automatically rolled over.The CMA has also suggested measures to help businesses get a fairer deal for energy, including prohibiting energy contracts being automatically rolled over.
The CMA's will consult on its proposals and publish final recommendations before the end of the year.The CMA's will consult on its proposals and publish final recommendations before the end of the year.
The Competition and Markets Authority (CMA) has been investigating the energy market since last July. 'Damning indictment'
"This is a damning indictment of how the energy market is failing consumers, with the biggest suppliers taking advantage of millions of households who have also been hit with the costs of government energy policy," said Richard Lloyd, the executive director of consumer group Which?.
The Secretary of State for Energy and Climate Change, Amber Rudd, said her department would "respond soon" to the report.
"We won't hesitate to take further action where the market is not delivering a fair deal for consumers - including doing more to support switching, ensure the swift roll-out of smart meters and increase competition in energy markets," she added.
The CMA has been investigating the energy market since last July.
In February, it published its initial findings, saying that, from 2012 to 2014, more than 95% of dual-fuel customers of the big firms would have have saved money by switching tariffs or suppliers. The savings they missed ranged from £158 to £234 a year per customer.In February, it published its initial findings, saying that, from 2012 to 2014, more than 95% of dual-fuel customers of the big firms would have have saved money by switching tariffs or suppliers. The savings they missed ranged from £158 to £234 a year per customer.
The year-long investigation involved around a dozen site visits, 30 hearings and more than 100 submissions.The year-long investigation involved around a dozen site visits, 30 hearings and more than 100 submissions.
The findings are likely to be seized upon by consumer groups as confirmation that the energy market has not been working for consumers.
Do you feel you were overcharged by your energy supplier between 2009 and 2013? Email haveyoursay@bbc.co.uk with your story.Do you feel you were overcharged by your energy supplier between 2009 and 2013? Email haveyoursay@bbc.co.uk with your story.
Please include a contact number if you are willing to speak to a BBC journalist.Please include a contact number if you are willing to speak to a BBC journalist.