‘Suppliers out of excuses’ for high energy bills
Citizens Advice has called on the energy industry to be frank with its customers about why energy costs are so high, particular as wholesale costs are down.
Today npower has revealed a 38% decline in its retail profits.
Citizens Advice Chief Executive Gillian Guy:
“It’s time for energy firms to be frank with their customers about why prices are so high and take steps to reduce bills. Fewer costs are being added to people’s bills through levies for things such as energy efficiency schemes, and with wholesale prices down, suppliers are now out of excuses.
“Energy firms need to make a level of profit that ensures the industry is sustainable but what is unclear to consumers is whether the price they are paying and the profits firms are making are fair.
“Energy bills are up a third since 2010 and these rising costs are putting extra pressure on already stretched budgets. The consistent decline in wholesale prices is a missed opportunity to help households save money and start to rebuild trust. The failure to pass on these savings acts as a reminder why it is really important the competition investigation delivers a more transparent market and gets to the bottom of whether people are actually paying a fair price for their electricity and gas.”
Notes to editors:
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 .
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To find your local bureau in England and Wales, visit citizensadvice.org.uk . You can also get advice online at adviceguide.org.uk
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
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
Citizens Advice service staff are supported by more than 21,000 trained volunteers, working at over 3,000 service outlets across England and Wales.