Comment on Ofgem's Quarterly Report on wholesale and retail energy prices

Published:

18/09/2009

Topic:

Press Release,Gas & Electricity

Scott Byrom, utilities manager at moneysupermarket.com said: "In the blue corner, we have the UK's energy regulator, Ofgem, stating that the UK energy suppliers should be passing on price cuts on the back of falls in wholesale energy prices, and in the red corner are all of the Big Six energy giants arguing customers are unlikely to see prices drop. In fact, they indicate they are trying to resist passing on price hikes to customers in the next year.

"With such opposing views on the state of the market, there is a need for more transparency within the industry. This isn't good news for the consumer who is confused about where to turn, and with today's announcements we could see customers' faith dwindle even more.

"The energy providers are able to offer cheap deals to consumers if they are willing to switch suppliers however, in reality less than one in five people actually switch to a better deal. My advice to people looking to stop overpaying for their energy is to scour the market for the best value deal in their region."

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