Household energy suppliers are now facing calls for bill to fall a further 10%. This comes after analysis of wholesale prices showing costs at a near 10-year low.
The cost of raw energy averaged nine-year lows over the first quarter f 2016, according to market data firm ICIS, with Brent crude oil falling below $30 a barrel in January amid a refusal by major producers to cut production despite low demand in the global economy.
The price comparison website uSwitch was among groups suggesting that households were being short-changed. Its director of consumer policy, Ann Robinson, said “Given record-low wholesale costs, suppliers must do the right thing and reduce standard tariffs by a further 10%”
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