UK Energy Secretary warns retailers: Act or face legal consequences

Grant Shapps has issued a stern warning to retailers, urging immediate action or else face severe legal repercussions for their practices in the wake of fuel price hikes

Energy Secretary Grant Shapps has called for a roundtable meeting today with major UK supermarkets, fuel retailers and oil companies to discuss the escalating issue of fuel price hikes.

The aim of the meeting is to address concerns regarding the potential overcharging of drivers at the pump.

The Competition and Markets Authority (CMA) recently released a report highlighting that certain retailers have been charging an additional 6p per litre for fuel, resulting in an estimated £900 million in extra revenue in 2022.

This alarming finding has prompted Shapps to hold these retailers accountable for their pricing practices, particularly in light of falling wholesale energy costs.

During the meeting, Shapps will urge the retailers, including Asda, Tesco, Morrison’s, Sainsbury’s, bp, Shell and Esso, to adopt the CMA’s voluntary scheme.

This scheme requires retailers to share accurate road fuel prices by August, enhancing transparency and promoting fair competition in the market.

Make sure you check out the latest Net Hero Podcast episode:

Net zero is a way to cut your costs and help the planet, so what’s stopping you? Often, it’s just the right help and advice. That’s what we will provide at the Big Zero Show this July. Workshops, expert speakers, case studies and exhibitions. Plus, networking with 1500 peers and potential customers. Register for free now.


Latest Podcast