SNP call for gas price investigation

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MEP and SNP President Ian Hudghton has today called for an investigation by the European Commission into the household gas market.
 
Mr Hudghton has asked the European Commission to investigate the UK gas market to see if gas companies are unfairly treating consumers in Scotland and the rest of the UK.
 
The call comes following concerns raised by Mr Hudghton’s constituents that gas companies are quick to put their prices up when the wholesale price goes up but are slow to bring them back down when the wholesale price falls.
 
Mr Hudghton has asked the European Commission to explain the actions it takes to ensure fair competition and pricing in the gas market.  He further asks whether the Commission will undertake an investigation to see if the gas companies are unfairly treating consumers.
 
On Friday, wholesale gas prices soared after stored gas reserves plummeted as looming production outages are expected to squeeze supplies and the country heads into more abnormally cold weather.
 
Commenting, Mr Hudghton said:
  
“Many of my constituents are concerned about the cost of their energy bills and I am concerned that the gas companies are unfairly pricing gas, thereby penalising consumers.
  
“Scottish households are rightly concerned about the cost of energy so it is essential to know that suppliers are not taking consumers for a ride. There are many in Scotland who view the pricing of gas as stacked in the gas company’s favour and I hope that an investigation by the European Commission could help to correct this imbalance and help Scottish consumers.
  
“The European Commission has a role to play in regulating trade and ensuring competition within markets so I have asked the commission to review the situation in Scotland and the UK to see if consumers are losing out.”