Energy suppliers - urgent investigation required says AM

12.00.00am GMT Tue 29th Jan 2008

Social Justice Spokesperson for the Welsh Liberal Democrats Peter Black AM has joined consumer watchdog Energywatch in calling for UK energy companies to be investigated by the Competition Commission over their recent price rises. Mr Black said:

"Since Christmas, more than two-thirds of Welsh households have seen their energy costs begin to skyrocket. Three of the big suppliers have already hiked their prices, and now two others - Eon and Scottish Power - are to follow suit.

"When wholesale gas and electricity prices fall, the companies seem to drag their feet about passing the benefit on to the consumer, and then make any price reduction as small as they can get away with.

"How strange then, that when wholesale prices rise, the self-same companies are so quick to pass the costs on to the customer. Today's annual bills are twice what they were in 2003 on average.

"Such an arrangement seems far too cosy.

"Energywatch have said that the energy market is uncompetitive, and the price rises are not justified. Such a statement needs to be investigated, and that is why I support their call for the Competition Commission to mount an urgent investigation."