energywatch, the gas and electricity watchdog, has asked the European Commission to complete its review of the wholesale gas market as swiftly as possible. This move was prompted when Centrica, the parent company of British Gas Trading, warned that consumers could see further price hikes this year as a result of gas market 'volatility'.
The director of campaigns at energywatch, Adam Scorer, said: “Price rises in the last 18 months of 22% for gas and 18% for electricity have led to more than 1.3million customers rejecting British Gas, almost 400,000 in the last quarter alone.
“During that period, Centrica has been able to deliver good results and no-one should be surprised if the wholesale market causes them, along with the other energy suppliers, to raise their prices still further to maintain that level of performance for its shareholders.”
Scorer said the wholesale gas market lacked transparency and worked against the interests of UK domestic and business consumers. He added that consumers had, however, reacted to last year's price rises by looking around for better deals, with one in 10 British Gas customers deciding to take their business elsewhere.
Visit www.energywatch.org.uk for more information and advice.
