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Great Britain’s energy regulator has said it will investigate increases in fuel bills amid concerns that suppliers may be charging households unfairly.
Gas prices in particular have surged in recent months to records, prompting almost every household energy supplier to raise prices to the maximum allowed. That price cap, set by regulator Ofgem, has also soared.
However, some consumer advocates have argued that energy companies have raised prices by more than needed to cover higher wholesale costs, in an effort to strengthen their own balance sheets at customers’ expense.
Jonathan Brearley, chief executive of Ofgem, on Tuesday told BBC Radio 4:
We’re going to take a close look at those direct debits. We’re going to make sure that they are raised fairly – clearly prices have gone up – and if they haven’t been we’ll take action and make sure companies put it right.
You shouldn’t take more than is necessary. You…