As if consumers didn’t have enough to worry about. This winter, gas and electricity bills for UK households are expected to rise by more than a quarter. By next April, consultants Cambridge Energy Research Associates forecasts that, as a result of the rise in oil prices, European gas prices will have roughly doubled from the start of 2008.

The howls of outrage from retail customers and small businesses are understandable. As household budgets are squeezed by the rising cost of food, petrol and mortgages, the utility companies’ willingness to add to the pain is, to say the least, unfortunate. After all, operating profits at Centrica, which owns British Gas, rose 40 per cent last year to £2bn. Investors may be pleased, but are customers being treated fairly?