Responding to the news that profits at British Gas’ residential energy supply arm are forecast to rise for the first half of 2015 to £528m from £265m last year, Ann Robinson, Director of Consumer Policy at Uswitch.com, says: “The news that British Gas is predicting a surge in profits will be a hard pill to swallow for its customers, especially as so many went cold last winter to cope with sky-high bills.
“Wholesale prices, which make up around half of energy bills, have plunged to their lowest level in five years. Although British Gas is the only big six supplier to reduce gas prices twice this year, the fact remains that the combined cuts will lower its average dual fuel bill by just 6%.
“Meanwhile, why are consumers still waiting for EDF Energy, E.ON, npower, ScottishPower and SSE to make further reductions? Suppliers must do the right thing by passing on savings to help consumers, who are struggling with bills which are £700 a year higher than they were ten years ago.
“Given how much wholesale prices have fallen over the past two years, customers should be seeing double-digit percentage cuts to their bills. British Gas should again lead by example by making a 5% cut to both standard gas and electricity tariffs, particularly when it is forecasting increased profits.
“Interestingly, British Gas customers could be a staggering £252 a year better off by switching to a new fixed price deal offered by Sainsbury’s Energy, which it runs on behalf of the supermarket.”
Jason Wakeford
Phone: 0203 872 5612
Email: jason.wakeford@uswitch.com
Twitter: @UswitchPR
Sainsbury Energy’s ‘Fixed Price August 2016’ tariff is £904 per year based on average dual fuel energy usage and paying by Direct Debit. British Gas standard duel fuel plan is £1,156 per year, based on average energy consumption and paying by Direct Debit.
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