ENERGY giants were yesterday accused of ripping off eight in ten families so they can attract new customers with big discounts.
MPs were told the Big Six overcharge existing customers by around £150 a year to pay for eye-catching new deals.
But new customers with British Gas, E.On, Npower, EDF, SSE and Scottish Power then find their costs soaring when the temporary offer ends after a year.
Stephen Fitzpatrick, boss of Ovo Energy, told the Commons Energy Committee 85 per cent of Big Six customers were paying too much.
He said “predatory pricing” meant small firms like his were denied a fair chance of competing for new business.
He added: “It is a £30billion market and nobody wants to enter it — that’s the measure of competition. Energy companies should not be allowed to have a large difference between their lowest cost and average cost.”
Read more: http://www.thesun.co.uk/sol/homepage/news/politics/4521472/8-out-of-10-ripped-off-by-power-firms.html#ixzz25aEfMkU8
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