Britons paying up to £100 too much for energy
27 August 2009
British energy companies have been found to be overcharging customers by as much as £100 per year.
According to new data from Consumer Focus, energy suppliers in the UK are charging an annual average of £74 per household more than is necessary in light of the cheap price of wholesale energy.
The cuts in pricing that have been suggested by the group for electricity and gas prices would equate to an average saving of £157 by the end of the year.
However, Gary Felgate, chief executive of the Energy Retail Association, reminded customers that there is always a delay between wholesale price fluctuations and domestic bills.
He said: "Energy prices have come down for most customers this year following falls on the wholesale market.
"However, despite recent decreases, prices are still volatile going into this winter. Much of the energy we are all using now was bought last year when prices were at their highest."
Wholesale prices are not the only factor that affects energy pricing, with "environmental, transmission and distribution charges and metering costs" all having an impact, added the expert.
By Christian James
Useful Links and Frequently Asked Questions
Loans
Debt Management
Financial News
Faq's