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Energy market review detail expected

Source BBC News@ tienganhvui.com


Pylons near Barking Power Station in east LondonThe review is expected to examine the barriers hampering entry to the energy market


Energy Secretary Ed Davey is expected to unveil more details of a proposed review of competition in the energy market in a Commons statement later.


Prime Minister David Cameron told MPs on Wednesday: "We want a competition inquiry that starts straight away."


The review will be led by the regulator Ofgem, together with the Office of Fair Trading (OFT), and the Competition and Markets Authority (CMA).


Labour accused the PM of "kicking the problem into the long grass".


Mr Davey is due to deliver the annual energy statement to the House of Commons from about 11:15 GMT, unless it is delayed by urgent questions or other statements.


The review is expected to report annually on the state of the energy market, examining the barriers encountered by new suppliers entering the market, scrutinising prices and profitability, and evaluating how easy customers are finding it to switch suppliers.


"I'll be announcing that we'll do an annual competition assessment to make sure that these big six [energy companies], they feel the pressure of competition," Mr Davey told BBC One's Watchdog programme.


"We're not going to let them get away with hiding things, from people, from Parliament, from ministers," he said.


The first review is expected to be complete by spring 2014 and would help to bring "much more transparency" to the sector, he added.


At prime minister's questions, Mr Cameron said: "What we need in the energy market is more competition and lower levies and charges to drive profits and prices down, but what we have learnt in the last week is this: competition should include switching."


Labour leader Ed Miliband responded by describing Mr Cameron as "the unofficial spokesman for the energy companies".


"The only thing that people need to do if they want someone to stand up against the energy companies is to switch the prime minister," he concluded.





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