Ofgem has today called on the big six energy suppliers to explain the impact falling wholesale costs will have upon customer energy bills. Ann Robinson, Director of Consumer Policy at Uswitch.com, says: “We wholeheartedly agree with Ofgem – energy suppliers have some explaining to do.
“Falling wholesale prices should come as welcome news for consumers but until there is an impact on their energy bills it’s hard to see the benefit. The average household energy bill has increased by £53 since last year yet wholesale prices have fallen by 38% for gas and 23% for electricity over the same period.
“There is a perception that when wholesale prices go up, energy bills rise like a rocket but when prices come down, bills fall like a feather. Explaining energy pricing will be an effective first step towards restoring trust in the industry.
“However, rather than long-winded explanations on why prices are still so high, what consumers really need to see is a reduction to their energy bill. Actions speak louder than words.”
Charlotte Nunes
Phone: 020 7148 4664
Email: charlotte.nunes@uswitch.com
Twitter: @uswitchPR
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Uswitch is the UK’s top comparison website for home services switching. Launched in September 2000, we help consumers save money on their gas, electricity, broadband, mobile, TV, and financial services products and get more of what matters to them. Last year we saved consumers over £373 million on their energy bills alone.
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