By Daniel Hunter

Responding to Energy Secretary Ed Davey’s comments on energy company profits, John Allan, National Chairman, Federation of Small Businesses, said:

“The FSB welcomes the Energy Secretary’s intervention regarding the excessive profits being made by some of the biggest energy companies. Over 40 per cent of all small businesses are with British Gas and it simply cannot be right that one company has such a dominant share especially given the price of gas now accounts for between five to 10 per cent of total business costs for nearly one in ten of the UK’s smallest businesses.

“The business energy market is in desperate need of reform and we want to see radical measures put in place to increase transparency in the market and allow small firms to switch to more competitive energy deals with ease. We need the current Office of Fair Trading and Ofgem investigation into the state of the energy market to deliver a fairer deal for the UK’s five million small businesses.”