Useless Ofgem lets our foreign-owned power companies rip us off

Four of our six main power companies are foreign owned. They view the UK as a goldmine because they can make much bigger profits here than in their better-regulated home markets. This is because the overpaid bureaucrats at Ofgem, the gas and electricity regulator, are more interested in protecting the power companies than consumers. Every time wholesale oil and gas prices go up, the power companies raise prices to us. Every time wholesale prices go down, the power companies say they can’t cut prices to us as they’re tied into long-term contracts. And worthless Ofgem lets them get away with this scam year after year. Here’s the proof: