Ofgem: energy firms' profits 5% higher than forecast at £106 per household

#Energy Watchdog predicts suppliers will make more than expected and calls for lower bills for consumers

The energy watchdog, Ofgem, is predicting that energy suppliers will make £106 per household over the next year almost 5% more than it forecast a month ago.

Dermot Nolan, the chief executive, said he wanted to see this reflected in lower bills as falling wholesale power prices increase company profit margins. "If the market is operating efficiently, you would expect to see competition pressing down [household] prices."

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