UK: Top energy player welcomes CMA probe

The head of the largest energy supplier in the UK has told reporters he would welcome a market inquiry from the Competition and Markets Authority.

The head of British Gas, Rick Haythornthwait, said he acknowledges a lack of trust among energy consumers of suppliers and agreed that the CMA should probe the industry. “I trust the CMA to provide an objective independent view taking the sector forward because we need t solve some pretty important things together,” the executive said.

The remarks were made the same day reports emerged that Ofgem, the UK’s energy regulator, is on the cusp of referring the industry to the CMA to request an investigation into the state of competition. Consumer advocates are calling for competition regulators to break up the six leading energy companies to boost competition.

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