Energy supplier Ovo Energy is axing plans to increase costs for its variable rate customers due to a drop in the price it pays for gas and electricity.
Recent price hikes have increased the profit margins enjoyed by Britain's big energy firms to £125 per customer a year from £15 in June, it emerged today.
Energy regulator Ofgem has stepped up its investigation into the big six energy suppliers to determine if profits at their retail arms have been underestimated to justify higher prices.
22 August 2011
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