Consumers Should Fight Back at Big 6 Energy Companies
By Anne Lewis-Schneider
The MD of aspect.co.uk, Will Davies has strong views on the Big 6 Energy Companies for what he calls their exploitation of and profiteering from their customers. Winter is fast approaching and energy bills for heating and electricity are set to soar with little being done to curb expenses through better energy efficiency. Mr. Davies has said that the energy supply companies are continuing to overcharge their customers, this in a bid to fund cheap long term energy offers.
The Big Six collectively are comprised of SSE, British Gas, E.on, EDF, nPower and Scottish Power, and are responsible for 99% of heating and electricity supply in the UK. Aspect.co.uk is a property maintenance and refurbishment company who do upgrades on housing to make them more energy efficient. In a report from the Institute for Public Policy Research about the true cost of energy, analysis has shown that by 2020 consumers will pay £2 billion more than the actual costs of the power they will be using. Mr. Davies hopes that before things get to that proportion Ofgem will step in to put more stringent regulatory measures in place.
If there was fair competition and better pricing this would enable a more affordable pricing for energy. The study done covered many different scenarios to gage where savings could be made. The overall result was that if a saving of just 2.5% were made possible to annual efficiency figures, an amount of £1.9 billion in savings could be achieved by 2020, translated to the individual this means a saving of £70 for the average energy bill of household users per annum. A highlighted point of the report is that some homes pay upwards of £330 more on their bills than an identical neighbouring household and they are using the same energy supplier.
Mr. Davies has asked how this can be possible and how it can be allowed to continue. He went on to say that Ofgem must step in urgently and create fair competition between suppliers of energy. Big 6 in the meantime have recorded an increase in profits per consumer to £125 from previous figures of £15 per customer. One wonders how something like this can continue unchecked. Consumers need to voice their displeasure to Ofgem and Government with regard to unacceptable energy costs and closed markets, which are severely impacting upon UK residents.
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