New consumer watchdog to check price increases

A new consumer rights agency is slated to check soaring prices that is reigning in inflation. It looks like the new agency is set out to target energy companies churning out skyrocketing bills to consumers.

The new consumer watchdog will substitute the National Consumer Council or the NCC, and will be called the Consumer Focus. It will also replace NCC’s affiliated agencies in Wales and Scotland along with the currently functioning agencies Postwatch and Energywatch.

The Consumer Focus will be ready to work by October 1. It will be headed by CEO Ed Mayo. Mayo told news reports that his new organization would be a watchdog agency with teeth that would actually have the necessary powers to target profit taking at the expense of consumers.

The new CEO is the former chief of the NCC and he has stated that a reconstruction of the agency was necessary since the agenda of the consumers is one of sheer survival. This holds true particularly for the elderly and employees on limited income.

As far as surging prices are concerned, in particular for energy bills, the Consumer Focus will carry statutory powers to hold firms responsible for their prices and profit taking. Offices for the Consumer Focus will be established in Wales, Scotland, Northern Ireland and England.

Mr. Mayo was quoted as saying in a news report that food and energy prices are increasing on a daily or weekly basis, and people who have moved from fixed mortgages will find it very difficult to cope under these economic conditions.