Restructure Energy watchdog Ofgem. Force Energy companies to justify the price increase.

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Restructure Energy watchdog Ofgem. Force Energy companies to justify the price increase.

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The Energy watchdog Ofgem is supposed to watch the energy prices, but currently does not really act as a force that can stop the energy companies from increasing the prices whenever they want.

I propose to restructure the Ofgem (or create a new government unit) to an appropriate level so they would have enough power, resources and authority to force the Energy Supplier to justify the price increase. Similar to what the Water watchdog does when it stops the water supply companies from increasing the prices.

The Energy Companies need to be able to justify the price increase. The Ofgem should have enough power to request any documents from the energy suppliers in order to identify if the price increase to a certain extent is justifiable or not. If the price increase cannot be justified, or the price increase can only be justified to a lower amount, the Ofgem should have enough power/authority to block the price increase.

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