Wholesale prices are not going up in the energy industry, according to the head of a small energy firm, despite British Gas following SSE's rises with a 9.2% increase in its dual-fuel bill price.

Stephen Fitzpatrick, MD and founder of Ovo Energy, said he had not seen wholesale prices rise for about two years.

"If they're buying more expensive gas, more expensive electricity, in a large part we think this is because they're selling it to themselves".