Nelson, Lancashire -- (SBWIRE) -- 05/19/2016 -- Proposed plans by regulators to slash prices for customers using pre-payment meters could eliminate up to 90% of profits, energy giant Utilita has warned. Energy suppliers have been under scrutiny in the last couple of years following vast and consistent complaints of overcharging. The Competition and Markets Authority (CMA) has been overseeing the activities of energy companies to ensure ethical charging practices across the board. In 2015 they found that customers had been overcharged for their tariffs to the tune of £1.7bn per year.

Amidst a backlash of criticism and in recent light of the E-on/Age UK scandal, energy giants should now cap customers who are on low incomes, in poor credit or who live in rented accommodation to ensure that the most vulnerable in society are not impacted on unfairly. Findings from the CMA report highlighted a £300 per year more being charged to such customers.

The CMA is expected to make its final recommendations in summer of this year, which the energy companies will no doubt be waiting for to see if the CMA changes its stance on prepayment charging.

A spokesperson for the Hosemaster said "Britain is still feeling the grips of recession and thousands of people each year struggle with their energy bills amidst rising prices and stiff competition. The poorest in society should not be charged more for their energy and tough regulation of these giants needs to take place to ensure everyone is safeguarded from unfair practice."

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The Hosemaster is the foremost supplier of hose couplings and workshop supplies to suit all plumbing requirements. For further information, please visit: www.thehosemaster.co.uk

Contact details
The Hosemaster
Company name: The Hosemaster
Address: 5/6 Kenyon Court,Kenyon Road,Nelson,BB9 5TF
Tel: 01282 604002
Contact person: Mark Schofield
Email: sales@thehosemaster.co.uk
Website: http://www.thehosemaster.co.uk/