The UK’s “Big Six” Energy suppliers, which includes British Gas, npower, E.ON and EDF, are making a pile of profit from the British public states national newspaper The Independent, who claims this has to be curbed.
Energy suppliers are still failing to pass on the massive savings in gas and electricity prices, after hiking the prices up by 42% last year – this equates to around £382 per household – when the companies blamed the high wholesale cost of gas and electricity, however, since then, these wholesale costs have halved – but utility bills have been reduced by just 4%.
Independent energy analyst, David Hunter told The Independent that the continued failure of suppliers passing on the massive reductions in energy price – is approaching scandal proportions.
He continued by saying that some suppliers have in fact made small reductions to niche tariffs recently, but deemed these as “token discounts” which do not change the overall trend.
The newspaper has now called on the “big six” gas and electricity suppliers to lower their energy prices by 10%, amounting to about £125 per year for each household, and is urging ministers to remove the licences of suppliers who do not pass on lower wholesale prices to the consumer.
Energychoices.co.uk/ Energy News