Big 6 energy CEOs face ESNZ questions on the cost of UK energy bills and the wider market
On Wednesday 15th October, the Energy Security and Net Zero (ESNZ) Committee will question the chief executives of the “Big Six” energy companies: OVO Energy, Octopus Energy, E.ON, Centrica, EDF UK, and ScottishPower.
The average annual energy bill for a typical household is now around £1,755—almost £500 higher than in October 2021.
How do these executives, whose firms now supply over 90% of British households (up from 79% in 2020), think those bills should be reduced?
Meeting details
At 3:00pm: Oral evidence
Inquiry
The cost of energy
CEO at OVO Energy
CEO at E.ON
CEO at Centrica
CEO at EDF UK
CEO at Scottish Power Customer Business
Director of Regulation and Economics at Octopus Energy
The session will cover issues ranging from retail practices to wider structural and market challenges in UK energy supply, and may include:
- What are these firms doing to address persistent problems with consumer energy billing across the sector?
- With standing charges so high, are consumers motivated to manage their energy use? Should levies move off consumer bills?
- How do these firms see their role in shaping public perceptions of the energy transition?
- Is it right that consumer energy debt—now at record levels—is recovered through paying customers’ bills?
- Are these executives achieving best value from the wholesale energy market? What needs to change?
- How effective is their relationship with Ofgem, and is the balance right in terms of regulatory powers?