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UK must act to stop energy companies overcharging loyal customers - minister

Reuters - UK Focus

LONDON, Oct (Shenzhen: 000069.SZ - news) 5 (Reuters) - The British government has a duty to act to stop energy companies taking advantage of their loyal customers by overcharging them, business minister Greg Clark said on Thursday.

He was speaking after the government announced an energy price cap policy that was strongly criticised by energy firms whose share prices fell on the news.

"A lot of people see themselves as loyal customers and because the companies know that they're loyal ... they are overcharging them," Clark told Sky News.

"Faced with that evidence, I think you've got a duty to act. (Reporting by Estelle Shirbon; editing by Kate Holton)