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Energy bills: Ministers not seeking 'price pledge'
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Energy bills: Ministers not seeking 'price pledge'
The government has denied reports it is seeking a commitment from energy firms to hold their prices down until 2015. The companies told BBC News ministers had asked them to keep bills on hold so long as there is no significant move in global wholesale energy prices. Government sources deny this - and say they are focusing instead on boosting competition and reducing green levies to cut annual bills by about £50. Labour, which wants prices frozen, said government policy was a "shambles". On Thursday, energy industry sources, including one of the "big six" energy suppliers, said they were being asked by the government to make a commitment not to raise prices - on the basis of government policies - until the middle of 2015.....Read more hereTags: None
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Major energy firms have started to announce plans to pass on savings to customers following a new package of measures from the government. British Gas owner Centrica said it would cut bills by £53 in January, two months after a £123 price rise for the average dual-fuel customer. SSE also said it would pass on savings of around £50 and Npower plans a conditional price freeze until 2015. The moves come after the government said it would make changes to bills. Some subsidies for those in fuel poverty will be moved into general taxation and some green policy targets will be slowed down. It said this would cut energy bills by a total of £50 a year for the average household.....Read more here