News & Press

Audrey Gallacher, Head of Energy Policy at Consumer Focus, said: 

“Millions of customers struggled to afford high energy prices over one of the coldest winters in recent years and for British Gas and other companies the result is massive returns. Such huge supplier profits will sound alarm bells, yet again, over wholesale price cuts not being fairly passed onto consumers. 

“We are concerned that energy firms may actually raise prices this winter. With only small price cuts for customers in the last two years, despite wholesale prices being half what they were at their peak and beginning to fall again, customers will rightly be outraged if this happens.”

ENDS

Notes to editors: 

• Wholesale energy prices are less than half what they were at their peak in 2008. They are now 47p/th for gas and £43/MWh for electricity, declining from their peak of 99p/th in July 2008 and £92/MWh in September 2008 respectively. Please note – basic wholesale costs do not wholly reflect suppliers’ costs. The suppliers use purchasing strategies which usually involve them buying some of their energy in advance, and also face additional costs for environmental measures. So the price they pay will be different, and may be higher, than the current market wholesale price.
• Energy prices for domestic customers have declined by 7.5% for dual fuel, 9% for gas and 6% for electricity since the start of 2009.  

Current average dual fuel annual bills:

Based on a GB average Gas consumption of 20,500kWh and an average Electricity consumption of 3,300kWh per annum. Prices inclusive of VAT.