To justify its existence, Ofgem has decided that it is going to start a two-year investigation of the “big six” energy suppliers in the United Kingdom. Yes, fellow readers, it is going to take Ofgem a whole TWO years to research the state of the energy market and report on its findings. If I told my company I needed two years to investigate one industry in one country, I’d have the senior management point a crooked finger at me and say ‘you’re fired’.
Meanwhile, as average energy prices rise sharply well above the inflation year on year, and hefty profits are made, government ministers quietly sit in the balcony area watching the comedy-drama unfold. Occasionally, we hear a few words from Westminster on the subject, but never a concrete action worth talking about. Continue reading