Ofgem, the energy in watchdog has called for new measures to be brought into place in order to reduce the stranglehold that the 6 main UK energy suppliers have over the market.

The measures which would impact major suppliers including British Gas, SSE and npower, have been welcomed by the government and consumer groups, with calls for increased action after anger surrounding the suspected manipulation of energy markets.

Senior partner for markets at Ofgem, Andrew Wright, said that the “proposals will break the stranglehold of the big six in the retail market and create a more level playing field for independent suppliers, who will get a fair deal when they want to buy and sell power up to two years ahead".

UK energy companies have recently started to look at future energy sources within the UK, with energy giant Centrica looking to enter into shale gas fracking in the country, in a move which is likely to trigger large scale investment from within the industry.

Centrica enters into talks for UK fracking stake

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