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<p>In a competitive market, pricing decisions are a commercial matter for companies.</p><p>Consumers
can put pressure on companies to reduce prices by switching to the best deal for them
– Ofgem's Retail Market Reforms to deliver a simpler, clear market combined with Government's
push to significantly reduce switching times and require suppliers to share consumer
data with trusted third parties, should make this easier to do.</p><p>The Government
supported Ofgem's recent letter to the largest suppliers, challenging them to explain
to consumers the impact of falling wholesale prices on their retail prices. Evidence
that large suppliers raise prices more quickly when costs increase than they reduce
prices when costs fall was one of the issues underpinning Ofgem's recent referral
of the energy markets to the Competition and Markets Authority.</p><p> </p><p> </p><p>
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