Member Article

PM calls on energy firms to bring down prices

The Prime Minister is calling on the government and power firms to create a “trusted, simple and transparent” market, ahead of a summit on gas and electricity prices.

According to BBC reports, the energy secretary is due to meet with the six biggest energy suppliers, consumer groups and industry regulator Ofgem to discuss how to reduce bills.

Following the announcement last week that profit margins rose by £15 to £125 per customer, Ofgem announced plans to simplify tariffs to make it easier for customers to compare prices more easily.

SSE, a UK energy supplier has pledged to sell power on the open market rather than through its supply arm, in a move set to save customers a lot of money.

David Cameron and the energy secretary Chris Huhne have made a joint statement on MoneySavingExpert.com, pledging to help people to get their bulls down.

It is now hoped that the government will begin to actively engage with consumers to deliver a more efficient and fairer energy market.

However, the shadow energy secretary Caroline Flint believe the government will not be able to take on vested interests, and will avoid investigating misselling and spiralling prices.

The price of energy has risen by 18% in the past few weeks, and now even the cheapest prices have broken the £1,000 barrier for the first time.

This was posted in Bdaily's Members' News section by Ruth Mitchell .