6th Jan 2016 06:40
LONDON (Alliance News) - The chief executive of SSE PLC has criticised the UK's competition watchdog over its claim that big energy suppliers are overcharging customers, claiming the regulator has got its calculations wrong, the Financial Times reported.
Alistair Phillips-Davies said the Competition & Markets Authority has failed to prove its case, accusing it of carrying out sub-standard work in its report into the energy industry.
The CMA surprised many in the industry last summer when it ruled the 'Big Six' energy suppliers had overcharged customers to the tune of around GBP1.7 billion a year between 2010 and 2014.
Speaking in an interview with the FT, Phillips-Davies said the CMA has "completely failed to substantiate the evidence they have got and I think they have overestimated what they have done."
"Their work is not of the highest quality, it is fair to say," the SSE chief executive added.
https://next.ft.com/content/140d1984-a406-11e5-8218-6b8ff73aae15
By Sam Unsted; [email protected]; @SamUAtAlliance
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