By DARA BUTTERFIELD
Energy Secretary Amber Rudd has written to the big six energy suppliers calling for lower prices for consumers.
This comes after energy suppliers cut their prices from between 5.1% – 1.3% in February in response to the falling oil price. However many are saying that this is out of touch with the 20% fall in wholesale prices.
Rudd said: “My focus is to get the best deal for consumers and the Department is working hard to keep energy bills as low as possible.
“That is why I have written to energy companies asking them what their plans are to lower bills for hardworking British bill payers.
“In light of the greater regulatory stability we are providing and continued stability in wholesale gas prices, I believe that energy suppliers should be seeking to regain the trust of consumers by reflecting this in their pricing decisions.”
Gillian Guy of Citizens Advice added: “Energy suppliers can no longer make excuses about prices being high due to the prospect of a price freeze.
“Firms need to make sure consumers get the benefit of a drop in wholesale prices by passing on savings to customers.
“We’ve been calling on energy companies to pass on the savings from the drop in wholesale prices so it is good to see the Government putting extra pressure on suppliers.”
A spokesman for Energy UK, which represents the major energy firms, commented: “More companies are entering the market and by shopping around customers can find deals that are both cheaper than this time last year and which match individual circumstances.
“Our members will be replying to the Secretary of State in due course and the industry as a whole is keen to work constructively with the new government to ensure energy security at a price everyone can afford.”