Energy companies' reasons for price hikes cast into doubt - Telegraph: An appalling example of regulatory failure and profiteering. Will the public trust smart metering plans after this? "Consumers have in recent weeks been hit by price rises of up to 11.1 per cent. A number of the “Big Six” energy firms have claimed that the increases are because of rising wholesale prices.
However, data from Ofgem, the energy regulator, suggests that wholesale prices rose by only 1.7 per cent over the last year. The figures, reported in the Financial Times, will prompt fury across the country as homeowners prepare for winter. According to the analysis, the element of the average energy bill due to wholesale prices would only have gone up from £600 to £610." 'via Blog this'