Ed Davey: Only 'smart phone generation' able to get good deals on energy Mr Davey is preparing to unveil plans for annual review of competition and standards in energy sector carried out by regulators Energy companies will be forced to "open up their books" to justify their profits and prices under plans to be set out by ministers on Thursday. He will announce plans for an annual review of competition and standards in the energy sector, to be carried out by industry regulators. Some ministers want the review to consider breaking up the big companies, but doing so is said to be highly complex under existing competition laws. Mr Davey said that his announcement would include measures to increase competition and transparency in the energy market. "It's not just the review we're announcing today," he said. "We're announcing efforts to make sure that switching is easier and quicker, as well as extra transparency for the "big six" so they have to justify profits and prices. Competition is actually beginning to show results; we've been very active to pushing competition to make bills simpler, tariffs less confusing so people can really exercise choice. And so the annual assessment will look at what we've done but also suggest ideas for how we can go further, because we're not complacent - we want to make sure markets are working for consumers.