Huhne calls summit with power firms
He told customers: “Our energy market has been too cosy for too long. I’m calling a summit of independent energy suppliers so the small guys have an equal chance to bid for your business.
“We need more competition to keep bills down – it is madness that 99 per cent of people get their energy from the ‘Big Six’.
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Hide Ad“Over the next decade we need to double our normal energy investment to replace old power stations and keep the lights on.
“Doing nothing isn’t an option – addiction to more foreign gas will put us at risk of oil and gas price shocks.”
Mr Huhne has asked chiefs from firms including Ovo Energy, First Utility, Ecotricity, Co-op Energy and Good Energy to Thursday’s meeting in London.
The summit comes just days before the Government unveils plans to revamp the electricity market.
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Hide AdMinisters hope the biggest shake-up in a generation will deliver more than £110bn of investment ministers believe is needed over the next decade to upgrade the UK’s creaking system and keep the lights on.
Mr Huhne added: “The current market simply can’t deliver, so we need more companies and more competition to keep price rises as low as possible.”