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Gas supply companies rebuked by Ofgem

The energy regulator Ofgem has today issued a stinging rebuke for UK gas supply companies confirming that it expects UK consumers and UK businesses to benefit from the fall in the wholesale price of gas. While acknowledging that many energy companies have been forced into large investment programmes over the last few years, with many still recovering from significant losses of years gone by, there will be a new review of retail prices in the New Year.

In a sign that the UK regulator is finally "getting tough", Ofgem has confirmed that "it will not shy away from proposing radical reform to protect the interests of consumers". While we have been in this particular situation on a number of occasions it does look as though the regulator has finally decided enough is enough and changes need to be made in the UK energy sector to protect consumers.

Over the last couple of years there has been a massive increase in the number of people struggling to pay their energy bills as the price of gas, electric and water continue to rise. So far there has been no official response from the gas supply companies although in the past they have cited the need for investment as a "reason" for the ever-growing cost of energy in the UK.

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