Energy price caps and big mergers will only serve to shore up the ‘big six’

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In 2019, standard variable rates could be capped and Npower and SSE might be one company. Yet, even then, the customer may not see much benefit

Will early 2019 be remembered as the beginning of the end for competition in the UK energy market? That is likely to be the time when Theresa May’s price cap on energy bills takes effect and two titans of the market complete the merger they proposed last week.

The new company to be created by Npower and SSE means the so-called “big six” energy suppliers will shrink to five. More importantly, it means half of the market will belong to just two companies: the new firm and British Gas.

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