The bosses of the UK’s six biggest energy firms face a grilling from MPs today as they seek to defend the price hikes imposed on millions of households across the country.

Millions of households faced further pain today after British Gas owner Centrica signalled it may have to make another hike in energy prices.

Irish oil and gas group Tullow Oil posted a 31% leap in pre-tax profits today as recent investment in new production pumped through.

A major gas exploration project in the North Sea helped Anglo-Irish group Tullow Oil to a 47% rise in turnover last year, the company said today.