Consumers Are Being Angered By Energy Companies
By Anne Lewis-Schneider
The Energy Secretary Ed Davey has said that he feels that energy firms have failed to justify the increases that they have charged their customers in the latest round of price hikes this year. He went on to say that customers are angry and really frustrated with the price of household energy bills. He has appealed to energy companies to be more transparent and to give explanations for their increases, as he feels that consumers are being treated as cash cows by the energy market.
EDF are the latest of the Big Six to announce price increases and have come in at a surprisingly low 3.9% which in real terms means an increase on the average household bill of £49 per annum. This increase will come into effect in January next year and has been kept as low as possible, according to EDF, who say that they are attempting to keep the full impact of rising costs from impacting upon their 3.7 million customers. In a bid to keep costs down, EDF have said that they are absorbing the costs of Green Scheme tariffs after Prime Minister David Cameron announced that there would be a roll back of green levies.
Energy secretary Ed Davey has said that an announcement regarding the levies would be made before 5th of December this year. Ed Davey has praised EDF in its effort to keep costs down for their customers. EDF has said that if green tariffs were not lowered it may be forced to further increase prices in the future. Ed Davey has said that it will be up to the consumer as to how they will react to a further increase. He added that if energy companies did not reform their strategies then they would face the reputational damage as was seen before the reform of banking policies earlier this year.
The speech was met with muted enthusiasm at the central London meeting, and it was reiterated that whilst energy companies are afforded a reasonable profit to fund investments in infrastructure upgrading and the building of new energy sources of low carbon emissions, and to keep the supply of energy flowing to all consumers, it is necessary to ensure that customers are being taken care of and are not being exploited by the energy companies that supply their gas and electricity needs.
Head Office: EATON HOUSE, STATION ROAD, LEEDS, LS20 8XB Company Registration: 4704157 Vat Registration: 817013852