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Energy regulator steps up pressure on energy companies

It has today been revealed that Ofgem, the regulator for the energy industry, is unhappy about the speed at which the UK energy providers are stripping out over £500 million of excess premiums, much of which are charged to those with prepayment meters. While progress is being made on the £500 million savings there are concerns that the energy companies are "dragging their feet" at a time when prices are rising and more consumers than ever before are struggling to survive.

This is the latest in a campaign of increasing pressure against the energy companies who seem to have the UK in a stranglehold at the moment. However, despite serious pressure being exerted from many different angles the energy companies have yet to back off and reduce their prices in line with the price of oil. Many will remember they used the price of oil to increase their charges earlier in the year but now the price of oil has fallen by over 60% we are still seeing prices increase.

However, it is also worth remembering that the UK government now charge VAT on energy bills and they will also be taking 15% in taxes on these increased figures.

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