Energy suppliers are squeezing higher profits from their gas customers and raising the price of their cheapest deals in order to protect their retail margins, according to fresh data from the regulator.
Ofgem’s annual report has laid bare the full impact of rising electricity costs, increased market competition and the threat of Government's controversial energy price cap on the energy market.
It shows that as a result of this perfect storm, energy customers have found themselves paying a larger mark-up on their gas bills and have fewer cut-price deals available to them as suppliers scramble to defend their margins.
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