The Unite union has criticised British energy companies for not passing on recent major falls in gas prices to consumers. With gas prices taking a major fall, none of the major energy providers in the UK have shown any indication of reducing prices for consumers.
When energy prices rise, it seems that energy companies are quick to pass the buck to the consumer but when they drop, they are very reluctant to reduce prices. With the price of wholesale gas taking a 19% fall following the recent major reductions in oil prices, it seems to be unreasonable that this reduction has not been passed on to the consumer.
Centrina, the owner of British Gas raised gas prices by 44% in July to 90p per therm, but after the reduction in wholesale gas prices, this amount has fallen to roughly 73p. There is no word from any of the gas companies as to whether this fall will be passed on to the consumer.
The news comes as many people are in a desperate situation, unable to afford fuel bills. Recent statistics show that 5.2 million British households are in fuel poverty. A reduction in fuel costs could potentially have a significant positive impact on this figure but it doesn’t seem as though the energy companies will be willing to change their minds any time soon.
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