Call for 'fairer' energy pricing

The gap between the "true cost" of energy and what consumers are actually paying in their bills will have swelled to nearly £2 billion by 2020 unless there is tougher regulation of the market, a think tank has warned.

The Institute for Public Policy Research (IPPR) said unless tougher regulation is put in place by Ofgem to improve competition and make sure pricing is fairer, in 2020 customers will be missing out on £1.9 billion of possible savings.