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| A nice little earner... |
The news that the members of the energy cartel plan to cut our domestic energy charges will be warmly welcomed by hard pressed customers. EDF Energy started the ball rolling announcing plans to cut a typical gas bill for UK domestic customers by £38, or around 5%, from 7th February. This move, which affected around 1.4 million customers, followed a sharp fall in the price of wholesale gas over the winter period due to the (so far) relatively mild weather. What was not mentioned was that that EDF ramped up its gas bills by 15.4% last November in response to rising wholesale gas prices. The move was rapidly followed by the others members of the energy cartel (British Gas, Scottish and Southern Electric, etc) fell over each other in their haste to announce pending cuts to domestic gas bills. Oddly enough not all of the energy cartel members (who control over 90% of the domestic market) have yet to mention of any intention to reduce the cost of its domestic electricity bills, the cost of which increased rose by 4.5% last November. As welcome as the promised cuts are it is worth remembering that barely six months ago had the Big Six energy suppliers ramped up their prices by an average of 17% for gas and 10% for electricity.
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