The UK’s largest energy suppliers will remain intact as the nation’s anti-trust regulator said it found no evidence to support breaking them up.
The companies’ structure doesn’t hurt competition, the Competition and Markets Authority said Tuesday. The watchdog recommended that the industry help customers better understand their bills and switch providers to ensure they get the lowest prices.
“There are millions of customers paying too much for their energy bills,” Roger Witcomb, chairman of the investigation, said in a statement. “Many customers do not shop around to see if there’s a better deal out there –- let alone switch. The confusing way energy is measured and billed can make comparing deals understandably daunting.”
More than 34 percent of people surveyed had never considered changing energy supplier, according to the statement. Customers who get gas and electricity from a single provider may save about 160 pounds ($249) a year by switching to a cheaper deal.
The top suppliers are Centrica (British Gas), SSE, Iberdrola (Scottish Power), RWE (nPower), Electricite de France (EDF) and EON.
The CMA’s review was prompted by a request by energy regulator Ofgem, which last year sought an investigation into whether the utilities used their market power to increase prices. The findings are provisional and the watchdog is due to publish final recommendations by year-end.
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