Energy profits and prices do not add-up for consumers

Citizens Advice has reiterated its call for energy companies to pass on savings made from a drop in wholesale prices as.  The call comes as E.ON’s interim report reveals a decline in retail profits but an increase in generation profits.

Citizens Advice Chief Executive Gillian Guy said:

“The money companies make and the prices people are charged does not add-up for consumers. While a milder winter may have caused E.ON’s retail profit’s to decline, the amount of money it has made through its energy generation has actually increased on last year.

“Energy companies are still doing well for themselves at a time when many of their customers are struggling. Wholesale prices have been dropping for some time but the savings aren't been passed onto consumers.  

“This is why it is vital the competition investigation gets to the bottom of whether households are really paying a fair price to heat their homes and keep the lights on.”

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

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