THERE is no evidence recent gas and electricity price hikes are down to collusion between suppliers, the energy watchdog said today.
More than nine million customers with Npower and EDF have been hit with inflation-busting gas and electricity price rises in the past week - adding around £100 to average annual bills.
The UK's other major suppliers, such as British Gas, are expe
cted to follow suit.
Independent watchdog Energywatch has called for the main suppliers to be referred to the Competition Commission to assess any "structural failings" in the market.
But Ofgem chief executive Alistair Buchanan, who together with chairman Sir John Mogg met Chancellor Alistair Darling on Tuesday to discuss the market, said he had found no evidence of any anti-competitive behaviour between the firms.
He said that, instead, bills were being driven up by rising global energy costs.
Mr Buchanan said: "Ofgem wants to reassure customers that we constantly monitor the competitive market and regularly publish our analysis.
"Obviously, we look even closer during periods when prices are rising, but we have no evidence of any anti-competitive behaviour.
"We see companies gaining and losing significant market share, record switching levels and innovative deals."
French-owned company EDF, which has 5.5 million UK customers, announced yesterday that it was upping gas prices by 12.9 per cent and electricity by 7.9 per cent from Friday.
Npower announced even bigger increases for its four million customers - 17.2 per cent for gas and 12.7 per cent for electricity - earlier in the month.
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