Energy industry prepares for CMA report
The Competition and Markets Authority (CMA) is scheduled to unveil the provisional findings of its investigation into the energy markets on Tuesday 7 July. Media sources reported over the weekend that the authority would opt against recommending the break-up of the Big Six energy suppliers, and would reject the idea that the major suppliers were colluding in order to increase prices. Instead it is thought that the CMA could recommend lifting the four-tariff cap imposed by Ofgem following its Retail Market Review, and will focus on making it easier for “sticky” customers to switch suppliers. The authority’s final report should be published before the end of the year.