Energy companies over-charging

Consumer protection group, OFgem, have revealed, energy companies are charging too much. The chief executive, Dermot Nolan, told the BBC that prices should be lower for “vast majority of people”.

Even though oil prices have fallen dramatically, finally effecting high-street petrol prices, has not forced energy companies to consider a drop in energy prices, both electricity and gas.

“We really should be seeing bigger retail cuts than we have seen so far,” said Mr.Nolan told Radio 4’s Today programme.

He added: “[Energy companies are] not facing strong enough competitive challenges”.

A coalition of pressure by industry experts, poverty groups, charities and politicians is now growing stronger in its voice to get energy companies to reduce prices.