Ofgem appoints BDO to check on Big 6 pricing

Ofgem has drafted in accountancy firm BDO to look at how the Big Six energy suppliers present their profits compared with their prices. This follows Ofgem’s review of the market […]

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By Vicky Ellis

Ofgem has drafted in accountancy firm BDO to look at how the Big Six energy suppliers present their profits compared with their prices. This follows Ofgem’s review of the market earlier this year, when they decided to improve accounting transparency.

The Big Six are “not just retailers”, said an Ofgem spokesperson, but also generate electricity, which can make it confusing for consumers to see whether price rises are in line with wholesale costs.

A spokesperson for Ofgem said the review of energy suppliers would help customers “see exactly how companies are making their money.” BDO will report to Ofgem with their findings at the end of the year.