Ofgem has raised concerns about rising profits, lack of trust and weak competition, and set out five reasons for these issues
In calling for a full review of the UK energy market, Ofgem described a combination of rising profits, lack of consumer trust and weak competition.
Its market assessment found that average duel fuel prices increased by 24% between 2009 and 2013, outstripping consumer price inflation of 13.8%. Profits from selling domestic energy rose to £1.19bn in 2012, from £233m in 2009.