‘Big Six’ energy suppliers’ bosses to go before MPs over price rises

The UK’s six biggest energy firms will have to give evidence to MPs from the Energy and Climate Change Committee regarding their recent price hikes, a news report in the mainstream media has revealed.

Over the past three weeks, 3 of the ‘Big Six’ energy suppliers have announced some significant price hikes, with Npower’s dual-fuel bills set to go up by 10.4% on 1 December, SSE’s set to rise by 8.2% from 15 November, while British Gas’s bills are due to rise by 9.2% on 23 November.

However, all industry analysts expect the rest of the major players in the industry (Scottish Power, E.On and EDF) to join the trend and also reveal higher prices, although it’s yet to be determined just how much more every supplier plans to add to the current bills.

Given the fact that these price hikes have been particularly concerning for customers across the UK, and especially since all of the suppliers have partially blamed the significant price hikes on the Government’s various schemes that are being subsidized by means of the energy bills, the company’s directors are likely to face some serious grilling when they go before MPs on October 29’th.

The chairman of the committee of MPs, Sir Robert Smith, said: “The committee has today decided to call in the energy bosses in the context of the latest wave of price increases.”

The committee said the session would examine the “reasons and justification” behind recent price rises, the difference of pricing policies between the firms, and how “the transparency of energy company profits can be improved”.

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