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UK energy market to be investigated by the new competition watchdog March 30 2014, 0 Comments

This week Ofgem reported its findings on the state of the UK energy market, and concluded that there was sufficient evidence for a referral to the new Competition and Markets Authority (CMA), including excess profits, soaring prices (which increased by 24% between 2009 and 2013 – 10% above the CPI), and increasing consumer distrust. This assessment was jointly undertaken by Ofgem, the OFT and the CMA.