Falls in wholesale energy costs should be passed onto consumers
Following further decreases in the wholesale electricity and gas markets from the corresponding period last year, The Consumer Council is calling on energy suppliers to transparently pass these reductions onto consumers.
Maeve Holly, Energy Officer at The Consumer Council said, “The launch, today, of the August 2019 Bord Gáis Energy Index shows that there has been further decreases in the wholesale cost of electricity and gas from the comparable period last year. The Index explains that there has been a 28% decrease in wholesale electricity prices, and a 55% decrease in wholesale gas prices over these last twelve months.”
Maeve continued, “Unfortunately, in recent weeks we have seen increases in some household electricity tariffs by over 8%. In light of these reductions in the wholesale market, we are calling on energy suppliers to transparently pass these savings onto consumers.”
Electricity and gas customers could save money on their annual bill if they switch supplier or payment method. The Consumer Council has a free, independent, online energy price comparison tool providing an easy way to compare prices, available at www.consumercouncil.org.uk