21 May 2008
A small number of energy firms dominate the market in Britain and there is little room for competition, it has been claimed.
Chief Executive of Energywatch Allan Asher stated that in the last ten years the amount of electricity and gas firms has fallen to six, reports the Guardian.
He suggested that many perceive the market to be competitive but the reality is much different from this.
Changes between deals at the top end of the market stand at about £30 a year, Mr Asher noted, which amounts to very little difference per week.
"We are not in the business of theorising; the problem is the real damage being caused to real people by our broken markets," he commented.
But the dominance does not necessarily mean that large profits are being seen at the biggest energy organisations, Mr Asher remarked.
Earlier this week, the official said that there is no definable reason why consumers are paying more than they should.
© 2008 Adfero Ltd
Content for the uSwitch.com market news service is provided by a third party, Adfero Ltd. Whilst uSwitch.com makes reasonable efforts to check the reliability of this content, uSwitch.com does not guarantee the accuracy thereof or endorse the views or opinions given by Adfero Ltd, unless expressly stated otherwise.