UK’s Big Six energy suppliers rush to cut down prices following the Government’s policy changes
Following the Government’s announcement regarding a change of policy that would lead to consumers saving around 50 pounds on their dual fuel annual bills, the UK’s Energy major energy suppliers have already announce plans to pass on all of these savings directly to their customers, a news report in the media has revealed.
After announcing some significant price hikes over the past couple of months, British Gas, SSE, ScottishPower and npower are already backtracking and revealed that they plan to cut back prices. However, while British Gas and ScottishPower both declared the price cut would be around £50, SSE and npower did not provide any specific information regarding the actual savings.
Paul Massara, CEO of RWE npower said: “We are currently calculating how large this reduction will be… we don’t plan to increase energy prices before Spring 2015, unless there are increases in wholesale energy costs or network charges.”
EDF Energy, who announced a lower price rise of 3.9%, said that it “expects to be able to maintain” this lower rise, adding it “looks forward to hearing more detail from the Government, but does not anticipate that EDF Energy’s prices will rise again in 2014”.
E.ON, which is the only major supplier yet to announce an energy price hike said it doesn’t expect to have to raise prices as a result of social or environmental obligations in the next 18 months.
Of course, while even a small drop in the annual energy bills represents a very good piece of news for customers, the truth of the matter is that true savings can only be achieved by implementing long-term, sustainable energy optimization measures, such as HeatingSave.
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