By Chris Torney
Watchdog Consumer Focus has called on energy companies to publish details of the wholesale costs of supplying the UK’s homes with gas and electricity.
Each of the “big six” British power suppliers has raised prices this winter, with EDF the last to announce an increase in its tariffs. Its customers will see electricity rates go up by an average of 7.5 per cent, and gas rise by 6.5 per cent in March.
The companies have blamed increases in wholesale gas prices, which are paid to suppliers outside the UK.
But at present, there is no obligation for firms to reveal exactly what these wholesale costs are.
Audrey Gallacher, head of energy at Consumer Focus, said: “EDF Energy’s customers will be hugely disappointed that the supplier has chosen to up its prices as soon as possible after its price freeze ends. Consumers will be further annoyed that this rise is even higher than that of most other suppliers, particularly given that the firm already increased electricity prices in October.”
Gallacher added that new European rules due to come into effect in the UK in March could give energy watchdog Ofgem the right to force providers to reveal their costs in order to assess whether UK consumers were getting a fair deal.
Consumer Focus is also calling on the big six to “produce accounts that credibly break down their profits and margins”.
photo: SF Brit
