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Is the Chancellor about to take the energy providers to court?

Alistair Darling today gave his strongest hint yet that he will take legal action against both the energy sector and the banking sector if they fail to pass on cost reductions to customers. The Chancellor appears to have lost patience with the energy sector in particular where prices were pushed higher due to the oil price but have not fallen even though the price of oil has come back by about 60%.

As we approach the winter season charities such as Help the Aged have indicated a severe risk to the elderly in the cold winter snap. Many are already struggling to pay their energy bills and with prices set to move higher towards end of the year and into the new year there may be trouble ahead. So far the energy companies have failed to abide by an informal agreement with the government and while the government had threatened tax repercussions some weeks ago this seemed to fall by the wayside after the energy companies questioned the legality of such a move.

It seems as though we are set for another battle between the government and the energy companies with the poor consumer stuck in the middle.

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