Which? reports consumers want clearer energy prices

12.07.2010

According to a report published by Which?, nine in 10 consumers want more transparency in how energy prices are calculated.  Published Thursday 8th July, the report showed 83% of respondents felt there should be a Bank of England type base-rate for energy prices to allow for easy comparison between different suppliers and tariffs.  The Watchdog warned that such a measure would be of little use without greater clarity over how wholesale prices are set.

Which? chief executive, Peter Vicary-Smith, says;

“Energy suppliers are always quick to blame wholesale prices for rising bills but it’s all but impossible for an ordinary consumer to find out if such claims are true.
“Greater transparency over how retail prices are calculated is needed if people are to believe that they’re paying a fair price for their energy.”

Read the full article on the Which? website.

Energy UK disagrees….

However, Christine McGourty, Energy UK’S director says that the information is already there. She has criticised the report by saying that the data is readily available for cosumers.  She says that a large amount of the data can be found from Ofgem, energy analysts and suppliers.  She added that “Which? is wrong to suggest that there was a lack of transparency around energy pricing.”

Read the full article on the Energy UK website.