Cut more energy bills, regulator says
Britain's gas and electricity providers should continue to cut unnecessary costs from customer bills, Ofgem said today.The regulator made the comments in the initial findings of its billing practices investigation - which revealed that some householders were paying too much for their energy through no fault of their own.For example, some who get their fuel through prepayment meters are paying more than those who have set up a Direct Debit with their bank.However, those on the meters are often on low incomes and therefore do not have a bank account.Ofgem said in its report that £300 million of savings had been made by the providers - but that £200 million more could be needed.The regulator also criticized providers for not moving fast enough to cut bills.Alistair Buchanan, chief executive at the watchdog, said: "We've seen progress but it's certainly not the endgame. "We've seen encouraging signs since the end of our initial investigation but we demand more and quicker action for those customers currently losing out."
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