Ovo boss: Competition Commission would take too long

The boss of independent energy company Ovo, Stephen Fitzpatrick, has called for more competition and greater transparency in the sector.

On Tuesday, he told an MPs he could not understand bigger firms' explanation for increasing prices when, he said, wholesale gas prices had actually fallen recently.

However he did not back E.On's call for an inquiry: "Competition Commissions tend to take about 18 to 24 months to run, and I'm not sure most people want to wait that long - I'd like to see a stronger action from the regulator."