Though there has been a substantial fall in wholesale energy prices, which has
helped energy companies improve their profits, the businesses have warned
the best consumers can hope for is “avoiding an increase between now
and the end of 2010.” Some warn bills could rise next year.
The warnings come in letters from the heads of the six big companies have sent
to Ofgem, the industry regulator.
Their letters have sparked outrage from consumer groups, which said once again
energy companies were quick to raise bills when conditions were tough, but
far too slow to lower bills when their costs improved. Many had hoped annual
gas and electricity bills, which hit an all time high of £1,300 during 2008
would be cut substantially this summer, because of sharply lower prices on
the wholesale energy markets.
However, bills have fallen just a touch to £1,219 with suppliers trimming
their prices by no more than about 6 per cent on average, even though
…
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