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Consumers must feel the benefit of wholesale price drops

10 Mehefin 2014

Citizens Advice has said energy companies must make sure they pass on savings made when wholesale prices drop.  Regulator Ofgem has written to the six largest suppliers asking them to explain the impact failing wholesale prices is having on their pricing policies.

Citizens Advice Chief Executive Gillian Guy said:

“It does not add up for consumers when the wholesale price drops yet they see no difference in their bills.  Energy companies need to make sure they pass on the savings they make when wholesale prices reduce. This would help relieve the pressure on stretched household budgets and send a signal to consumers that suppliers are treating them fairly.

“Consumers need to know where they stand in the energy market, that’s why the outcome of the proposed competition investigation must deliver reforms to ensure it works for all consumers.”

Notes to editors:

  1. The Citizens Advice service comprises a network of local bureaux, all of which are independent charities, the Citizens Advice consumer service and national charity Citizens Advice. Together we help people resolve their money, legal and other problems by providing information and advice and by influencing policymakers. For more see the Citizens Advice website.
  2. The advice provided by the Citizens Advice service is free, independent, confidential, and impartial, and available to everyone regardless of race, gender, disability, sexual orientation, religion, age or nationality.
  3. To find your local bureau in England and Wales, visit citizensadvice.org.uk. You can also get advice online at adviceguide.org.uk
  4. You can get consumer advice from the Citizens Advice consumer service on 03454 04 05 06 or 03454 04 05 05 for Welsh language speakers
  5. Citizens Advice Bureaux in England and Wales advised 2.3 million clients on 5.4 million problems from October 2013 to September 2014. For full 2013/2014  service statistics see our quarterly publication Advice trends
  6. Citizens Advice service staff are supported by more than 21,000 trained volunteers, working at over 3,000 service outlets across England and Wales.