One big reform that won’t be in the Budget

The energy market is one of Britain’s biggest scandals.   A report out yesterday finds the Big Six energy companies are ‘greedy’ and ‘bad’, according to the industry regulator Ofgem which says they profiteer and ruthlessly exploit the vulnerable.   As a result a fifth of all households are now in fuel poverty – having to spend more than a fifth of their income on fuel.   Tomorrow’s Budget will miss a perfect opportunity to ease fuel poverty, will leave a failed market structure intact, and will make an empty gesture towards a ‘fair fuel stabiliser’.   Second only to the selfishness of the banks, British Gas, Npower, E.ON, EDF, Scottish and Southern Electricity, and Scottish Power are holding the country to ransom.   What should be done to end their rapaciousness? Continue reading