Wednesday, 26 August 2009

Energy suppliers overcharge customers by £100

Customers are being overcharged by £100 a year to heat and light their homes as suppliers fail to pass on price cuts, research by the Government's consumer watchdog suggests.Britain’s energy companies are paying much less for the power they supply, as prices on the wholesale market have halved in the past 12 months to reach the lowest levels in almost three years.
But despite the reductions, household electricity and gas bills are still higher than they were last summer, averaging more than £1,200 a year.
Consumer experts say the high prices charged to British families mean there is still room for further cuts, of as much as 10 per cent on gas bills and 3.5 per cent on electricity bills, bringing annual savings of £96.40.
Energy firms are estimated to be making an extra £2.2billion by failing to pass on the discounts to every household.
Pressure on suppliers is being increased by Ofgem, the industry regulator, which has given them until next week to explain why they have not passed on wholesale savings to their customers.
full article

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