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  They are a cartel ..............
  
  Big Six energy producers under fire over excessive profits ahead of grilling by MPs
  
  Report accuses firms of artificially inflating prices through lack of competition.
  
  Energy bills are being artificially inflated by a lack of competition in the supply market, according to a damning new report, which argues increased competition could cut £70 off the average annual dual-fuel bill by 2020.
  
  On the day MPs are due to grill representatives of the Big Six energy providers, IPPR, the think-tank behind the report, is calling for "greater fairness in terms of costs charged to energy consumers".
  
  It also finds that the gap between the most and least efficient energy supplier has widened since 2007.
  
  Will Straw, an associate director of IPPR, said: "The key question for the Big Six is why profits of 5 to 6 per cent are acceptable in a competitive market. In 1998, as the market was liberalised, the regulator believed 1.5 per cent was an adequate margin for energy suppliers. Profits in other sectors like supermarkets are as low as 2 per cent."
  
  Full story Independent.

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