Energy regulator Ofgem is failing to help consumers get the best value for money, according to a scathing report by MPs.
The Commons Energy and Climate Change Committee said new price caps on the amount energy firms can charge were too generous while performance targets were too low.
Committee chairman Tim Yeo said a warning by Ofgem chief executive Dermot Nolan that it could be eight years before it was clear whether the new system was delivering value for money was too long for "hard-pressed consumers" to wait.
He said: "Ofgem must get its act together and scrutinise these near monopolies more effectively.
"Simpler charging methodologies are needed to strengthen the market's ability to scrutinise costs and increase the pressure for greater cost-saving efficiencies.
"Barriers preventing smaller players from entering the market must be removed to drive down costs for consumers."
The so-called "network costs" currently account for around 23% of a dual fuel (gas and electricity) bill.
They are passed on to consumers by the energy suppliers who are charged by the network companies for using their transmission and distribution infrastructure.
In 2013, Ofgem introduced a new price control designed to ensure that costs were competitive and profits were not excessive.
However, the committee said there was "clear evidence" that the network companies were making higher profits than expected.
The committee also highlighted the complexity of the charging system, with a combination of codes and regional charges across the UK making it difficult to compare price and performance across the network companies.
It called on the Government and Ofgem to conduct an in-depth study into the merits of replacing the current system with a standard national tariff.
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