Huhne accuses Big Six of ‘predatory pricing’

Chris Huhne has announced that the Government will crack down on the Big Six putting up energy prices. Speaking at the Liberal Democrats Conference, the Energy Secretary also claimed that […]

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By Tom Gibson

Chris Huhne has announced that the Government will crack down on the Big Six putting up energy prices. Speaking at the Liberal Democrats Conference, the Energy Secretary also claimed that Britain’s low carbon economy was strong for our economic recovery.

Mr Huhne said: “We are determined to get tough with the big six energy companies to ensure that the consumer gets the best possible deal. We are cracking down on any bad practice that could smack of being anti-competitive.

“It’s not fair that big energy companies can push their prices up for the vast majority of their consumers- who do not switch- while introducing cut-throat offers for new customers that stop small firms entering the market. That looks to me like predatory pricing.”

Recently, regulator Ofgem drafted in accountancy firm BDO to look at how the Big Six energy suppliers present their profits compared with their prices, as the industry remains one of the most untrusted by consumers.

The controversial Energy Secretary defended his low carbon energy policy as he said it was vital for our survival: “Cutting carbon is not a luxury to be ditched when the going gets tough. It is essential to the survival of mankind as a species. The science is ever more clear. Cutting carbon is also a vital part of our recovery from the deepest recession since 1929. Then we had David Lloyd George’s Yellow Book: now we have Green Growth.”

Mr Huhne’s Department of Energy and Climate Change have said regulator Ofgem will be given stronger powers, a change due to come in by the end of the year, subject to Parliamentary approval of regulations.

Other Big 6 stories:

Green scepticism of Huhne crackdown

EDF price rise lowest of Big Six

Big Six must ramp up insulation, says Huhne