CMA: Businesses paying £280m more per year for energy
- Small and medium sized businesses have been paying hundreds of millions of pounds more for their gas and electricity every year.
- The Competition and Markets Authority (CMA) found “excess profits” made by the Big Six companies from supplying energy to SME customers amounted to around £280 million per year from 2007 to 2014.
- Out of that, around £230 million per year is estimated to be related to microbusiness customers.
- That means British Gas, EDF Energy, E.ON, npower, ScottishPower and SSE could have charged around 6% more for gas and electricity to microbusinesses “than would have been the case in a better functioning market”, according to the CMA’s provisional findings.