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UK government attacks UK energy companies

After coming under attack from Ofgem, the energy industry regulator, the UK government has now joined the party and issued a stinging rebuke for UK energy companies. Energy Minister David Kidney has "advised" gas supplies in particular to reduce their charges over the coming months due in the main to a reduction in wholesale prices. But is this enough?

As we mentioned in one of our earlier post yesterday, the UK government has been fairly lightweight in attacking the UK energy companies despite the fact that more and more people are falling into the energy poverty trap. There is a feeling that the UK government requires both financial and practical assistance from energy companies in the UK as the authorities look towards the next generation of power stations and energy supplies.

Rocking the boat at this particular stage may well put future schemes at risk and the UK government, while issuing today's token gesture, is unlikely to force gas, electric and any other energy suppliers to reduce their prices. We may see more "attacks" in the press but ultimately, without strengthening the regulatory position, there would appear to be very little the authorities are willing or able to do.

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