Energy suppliers under pressure to cut tariffs as low energy wholesale costs remain low

The UK’s energy suppliers are coming under fire for not adjusting their tariffs to match the wholesale energy prices, which are at their lowest in five years, a news report has revealed.

While British Gas cut gas prices twice this year – by 5% in February and by another 5% in August, the other suppliers were not so keen to follow suite. According to uSwitch’s figures covering gas price changes during 2015, E.ON has cut the price by 3.5%, ScottishPower has cut the price by 4.8%, npower has cut the price by 5.1% and SSE has cut the price by 4.1%. All these price cuts became effective during the early months of 2015.

Consumer group Which? has launched its “fair energy prices campaign”, which already has nearly 300,000 supporters and calls for the Competition and Markets Authority (CMA), as part of a current investigation into the energy market, to require energy suppliers to use simple, directly comparable pricing, similar to petrol pump displays, so people can more easily compare prices and make the best choice if they switch.

On the other hand, suppliers defended their pricing, saying that they regularly review the costs that make up their bills.

Let HeatingSave help you cut your energy bills

The HeatingSave Building Energy Management System helps customers save more than 30% on their bills by optimizing any heating system’s overall functionality. This is done by taking into account a variety of factors, such as internal and external temperatures, occupancy, time of the year, the particular characteristics of installed boilers, etc.

All of the data is used in order to determine the best heating patterns for the various heating zones within any building, using our proprietary heat-loss algorithm.

The end result is that users still get a very good level of comfort, while in the same time saving energy and money in the process.

If you’d like to find out more details on all the features HeatingSave has in store, just contact our dedicated product team, they’ll be more than happy to provide you with all the necessary information.