Energy inquiry 'proves need for competition investigation'

• By E4B
• 26 June 2008
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The recent Department for Business, Enterprise and Regulatory Reform committee inquiry has proved the need for an investigation into the energy market, according to the UK's watchdog.

energywatch has stated that evidence provided at the recent hearing gave the government group several "overpowering reasons" to refer the sector to the Competition Commission.

It added that the European competition specialists should also force the renegotiation of gas supply contracts.

Allan Asher, chief executive of the organisation, said British household and commercial electricity and gas users need "a better response than a shrug of resignation and helplessness" about rising energy prices.

"There is action we can take domestically and across Europe. We hope the committee will recommend government takes that action and takes it quickly," he added.

energywatch recently stated that the government should take several steps to help consumers.

Among the measures announced were calls for Westminster to lead a global initiative that will break the link between the price of gas and barrels of oil.