Final four energy firms to cut bills
Thursday 12 February 2009
Millions of households could be on track for lower energy bills as the last four of the big six suppliers pledged to follow the lead of British Gas and Scottish & Southern (SSE).
Facing a grilling from MPs about record electricity and gas charges yesterday, executives from Scottish Power, RWE npower, E.ON and EDF all said they were set to bring down bills. But, despite the barb from the chairman of the Energy and Climate Change Committee, Elliot Morley, that "fine words butter no parsnips", the companies pleaded commercial sensitivity and would not be drawn on when prices might be dropped, or by how much.
Jim Macdonald, the commercial director of E.ON's retail business, said his company was "very optimistic". Representatives from EDF and Scottish Power also said "soon". Only RWE npower equivocated, with Guy Johnson, its director of regulation, saying his group had worked hard on social tariff packages. "There has been a massive investment in vulnerable customers and that we will see that coming through in 2008, although maybe not in headline cuts," he said.
Gas and electricity bills have shot up by 50 per cent and 27 per cent respectively in the past year, and have remained high despite wholesale prices dropping by nearly half since last summer. Suppliers blame the time lag on their forward-buying strategies
British Gas is committed to bringing down prices by 10 per cent later this month, and by the end of March, SSE will cut electricity charges by 9 per cent and gas by 4 per cent.
- 1 Rihanna 'nude photos' claims emerge on 4Chan as hacking scandal continues
- 2 Frank Lampard equalises for Manchester City against Chelsea: how the internet reacted
- 5 Hitler’s former food taster reveals the horrors of the Wolf’s Lair
Rihanna 'nude photos' claims emerge on 4Chan as hacking scandal continues
Kim Kardashian 'nude pictures' leaked on 4chan weeks after Jennifer Lawrence 'The Fappening' scandal
Scotland could still declare independence – even without referendum, says Alex Salmond
Jennifer Lawrence leaked 4Chan sex video branded 'fake' by forum users
Britain First picture: Photographer 'horrified' after first Afghan policewoman killed by Taliban used for 'ban the burka' campaign
Scottish independence referendum: A nation divided against itself
Scottish referendum results: Cross-party consensus collapses amid Tory-Labour spat on the 'English question'
Scottish independence: David Cameron is becoming the 'George Bush of Britain'
Hilary Mantel 'should be investigated by police' over Margaret Thatcher assassination story, says Lord Bell
Plebgate MP Andrew Mitchell called officer a 'little s**t', claim court documents 'exposing ex-Chief Whip's 'record of abusing police'
Archbishop of Canterbury admits doubts about existence of God
iJobs Money & Business
£400 - £450 Per Day: Clearwater People Solutions Ltd: **URGENT CONTRACT ROLE**...
Up to £100k or £450p/d: Saxton Leigh: My client is a leading commodities tradi...
£320 - £330 per day: Ashdown Group: The Ashdown Group have been engaged by a l...
To £75,000 + Pension + Benefits + Bonus: Saxton Leigh: My client is looking f...