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Energy profits and prices do not add-up for consumers

Citizens Advice

Citizens Advice has reiterated its call for energy companies to pass on savings made from a drop in wholesale prices as. The call comes as E.ON’s interim report reveals a decline in retail profits but an increase in generation profits.

Citizens Advice Chief Executive Gillian Guy said:

“The money companies make and the prices people are charged does not add-up for consumers. While a milder winter may have caused E.ON’s retail profit’s to decline, the amount of money it has made through its energy generation has actually increased on last year.

“Energy companies are still doing well for themselves at a time when many of their customers are struggling. Wholesale prices have been dropping for some time but the savings aren't been passed onto consumers.

“This is why it is vital the competition investigation gets to the bottom of whether households are really paying a fair price to heat their homes and keep the lights on.”

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