Customers overcharged by 1.6 billion pounds

摘要

New research by Consumer Focus reports that energy customers are being overcharged by a combined 1.66 billion pounds this year (74 pounds per household), as declining wholesale costs have not been fully passed on by suppliers. Analysis by the consumer watchdog shows that current gas prices should be at least 7.4 percent cheaper (60.10 pounds annually), and electricity bills a minimum of 3.1 percent (13.80 pounds) lower, if suppliers had fully passed on declining wholesale costs to consumers. The watchdog is calling on suppliers to pass on these savings immediately. The research also suggests that additional price cuts of up to 8 percent (65 pounds) for gas and 4 percent (17.80 pounds) for electricity should be made by the end of the year, if market conditions do not substantially change. This, combined with an immediate cut, would save 157 pounds on current prices by winter.