Tweet
Five million families are being overcharged for gas and electricity by as much as £330 a year as the result of a stitch-up by energy firms. The 'Big Six' energy firms are punishing long-time loyal customers with higher tariffs in order to subsidise cheap deals for new households. At the same time, they are spending more time looking after their profits than improving efficiency and competing with each other in order to deliver lower prices. As a result, families could be missing out on savings equivalent to £1.9billion by 2020, according to a study by the Institute for Public Policy Research. The think-tank said the industry regulator, Ofgem, is not being tough enough with energy firms – British Gas, Scottish & Southern Energy, Npower, EDF, Eon and Scottish Power. In theory, there are rules in place where energy tariffs should reflect the cost of supplying the customer. However, the IPPR said these are not being applied....Read more here
-
Energy giants swipe £330 extra a year from loyal households to fund cheap deals for new customers
-
#15corpio commentedEditing a commentEnergy firm SSE will increase its domestic gas and electricity prices by an average of 9% from 15 October. It blamed the increases on the extra cost of using the gas and electricity networks and rising costs in energy wholesale markets. SSE, which also trades as Scottish Hydro and Swalec, said five million electricity customers and 3.4 million gas customers would be affected. However, there will be no more price rises before the second half of 2013. The forthcoming increases mean that a customer with an average standard dual-fuel .....Read more here
You must be logged in to post a comment. -