Energy deals gap between average Big Six and cheapest energy tariff increases
THE gap between average Big Six energy tariffs and the cheapest deals on the market has increased significantly since the competition watchdog began its investigation into the sector, figures show.
The gap between average Big Six energy tariffs and cheapest deals increases
Which? has called on the Competition and Markets Authority (CMA) to set out how it will judge the success of its proposals to improve the market for consumers after finding that the gap between the average Big Six standard dual fuel tariffs and their cheapest equivalents has increased from £182 in 2014 to £329.
Despite the major savings available, there had only been a 1.6 percentage point increase in the proportion of electricity customers and two percentage point increase in gas customers switching suppliers in that time.
The CMA is due to release the final report of its two-year investigation into the energy market later this month.
It has already found that British households could have been overpaying by about £1.7billion a year.
Which? wants the CMA to outline how its proposals will help vulnerable customers who have never switched.
A CMA spokesman said: “Our focus is on working to ensure that our measures will change this market for the better.”
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High street remains in 'grip of deep financial winter'
Retailers in ‘winter’s’ grip
SUMMER may be here but the high street remains in the “grip of a deep financial winter”, a report says.
High street retailers recorded a 1.9 per cent fall in overall year-on-year sales in May, a month after they suffered the biggest drop since the height of the recession, according to accountancy and business advisory firm BDO.
The latest numbers mean BDO’s High Street Sales Tracker has shown negative growth since October 2015, apart from in January.
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Autotrader dominates the sector as profits increase
Auto Trader profits soar
CLASSIFIED cars website Auto Trader saw profits accelerate last year as it continues to dominate the sector.
The company said full-year operating profit revved up by 19 per cent to £171.3million as increased advertising revenue lifted sales.
Auto Trader, which floated on the London Stock Exchange last year, said turnover was up from £255.9 million to £281.6million.
Debt, which under previous owner Apax dragged on the firm, was down £135.3million to £392.6million