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22/11/2013
Five Of The 'Big Six' Energy Companies Told To Cut Costs
Five of the UK's 'big six' energy companies have been told to cut costs for consumers.
Rejecting the companies investment plans, Ofgem, the energy regulator, has said that they should be able to "deliver more for less".
The six energy companies are required to submit their business plans for the next price control period - 2015 to 2023 - to Ofgem for approval.
Of these, only Western Power Distribution's (WPD) business plan was approved by the regulator.
While Ofgem admitted that all companies had "responded well" to its price controls - with £2bn in savings achieved since 2012 - it said that "most companies can go further in cutting their costs".
(MH/CD)
Rejecting the companies investment plans, Ofgem, the energy regulator, has said that they should be able to "deliver more for less".
The six energy companies are required to submit their business plans for the next price control period - 2015 to 2023 - to Ofgem for approval.
Of these, only Western Power Distribution's (WPD) business plan was approved by the regulator.
While Ofgem admitted that all companies had "responded well" to its price controls - with £2bn in savings achieved since 2012 - it said that "most companies can go further in cutting their costs".
(MH/CD)
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