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Energy price cuts 'leave consumers £3.1bn worse off'
15/03/10
Edited by Sophie Griffiths. The UK's big six energy suppliers may have recently announced price cuts for 2010, but residential property owners are still paying £3.1 billion a year more for dual fuel than they were in January 2008, it has been claimed.
Independent comparison service uSwitch.com said that gas and electricity costs climbed by 42 per cent two years ago, adding £4.3 billion to annual household bills.
Cuts announced last year and this year will reduce this by £1.2 billion, leaving the average home facing yearly energy charges of £1,191 - 31 per cent, or £279, higher than the typical annual bill in January 2008 of £912.
The comparison site said online deals offer the biggest savings to home owners, as while standard prices have fallen by eight per cent or £102 in the past two years, web-based tariffs have come down by 19 per cent or £213 a year.
Ann Robinson, director of consumer policy at uSwitch.com, said: "Online energy plans are now around £300 a year cheaper than standard plans offering us all the chance to bring our energy prices back down to pre-2008 levels."
So far, while all the big six have announced price cuts for 2010, only British Gas has implemented its reductions.
