Energy firms paid £4bn more for power than market rate, claims Labour

The Guardian:

In a new analysis of official figures, the Labour party, which has pledged to freeze prices for 20 months if it wins the general election in 2015, said the big six energy suppliers appear either to be inflating their prices to make extra profits for their own power plants, or striking very expensive deals to the detriment of consumers.

 It would appear we’ve learned nothing from Enron’s transfer pricing policies.  Why doesn’t Ofgem, the energy regulator, require the energy companies to produce audited company accounts which expose this practise.  Is it incompetence or corruption?

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