Major company bosses have told MPs that the UK energy market is competitive and works well for consumers. The managing director of British Gas rejected claims that customers are overcharged and that the big energy suppliers restrict competition.
Phil Bentley told MPs on the Energy Select Committee that the UK had "the lowest gas prices in Europe". The committee is sitting shortly after one supplier announced price rises. SSE, which trades as Scottish Hydro, Swalec and Southern Electric, will increase its domestic gas and electricity prices by an average of 9% from 15 October. It blamed the increases on the extra cost of using the gas and electricity networks and rising costs in energy wholesale markets. Some 3.4 million gas and five million electricity customers will be affected.....Read more here: BBC News - bosses defend energy market competition