Millions of Britons missing out on best energy prices

Source: Energy Digital

Date :07/10/2008 11:42:29

Millions of British consumers are missing out on the full benefits of energy market competition as the best price deals are not open to them, a UK energy regulator has said.

A probe into the UK energy supply market found that the 4.3 million consumers without access to gas supplies are each losing a potential £55 a year because they cannot get the discounts available to customers who take both gas and electricity from the same supplier, regulator Ofgem said.

They are also disadvantaged because electricity is more expensive than natural gas, Ofgem added.

"The companies are making higher margins on electricity than they are on gas," Ofgem Chief Executive Alistair Buchanan told reporters on a conference call.

The company said it was proposing measures to ban unfair price differences, including an end to the practice of charging consumers different amounts depending on their payment methods.