Ofgem investigates wholesale energy price difference Ofgem will investigate suggestions that there is a big difference between the prices the Big Six companies are paying for their energy supplies.
The energy regulator will investigate claims that last year there was a 27% difference in wholesale electricity prices, and a 15% difference in gas prices, the Telegraph reported.It has been suggested that the discrepancy in prices undermines the argument energy providers use when they raise prices – that they are all facing the same commodity price pressures.Tim Yeo, chairman of the energy select committee, welcomed greater transparency.”It reveals very different input prices and that some are much smarter at buying energy than others,” he told the news provider.”It will mean consumers can see why they are made to pay higher prices by some companies so they can make judgments about which they would rather have as their supplier.”It also exposes the extent to which perhaps companies are exploiting their better position rather than reflecting their own costs in lower prices.”Last month, Sir Roger Carr, the Chairman of Centrica – which owns British Gas – told the Sunday Telegraph that energy price rises were an “inevitable” result of rising wholesale prices. 
Similar Posts:
- Ofgem: Over 1.5 million customers in energy bills debt
- Walmart to Take Another Bite Out of Grocery Prices (and Suppliers’ Margins)
- Government Winter Fuel Payment cut cover up
- Price of cheapest online fixed gas and electricity tariff to increase
- Energy sellers routinely misleading customers
