The Energy and Climate Change Committee (ECCC) has slammed Ofgem for failing to ensure energy company profits are transparent.
On behalf of the Committee, Sir Robert Smith MP said:“ At a time when many people are struggling with the rising costs of energy, consumers need reassurance that the profits being made by the Big Six are not excessive.
“Unfortunately, the complex vertically-integrated structure of these companies means that working out exactly how their profits are made requires forensic accountants.
“Ofgem should shine a brighter light on the internal structure of these big companies.”
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