Enforced Energy Price Cuts.

billsavings

The government is ready to change the law to force energy companies to pass on falls in oil and gas prices, Commons leader Harriet Harman has told MPs. Ms Harman made the comment as she was standing in for Gordon Brown at prime minister's questions.

http://news.bbc.co.uk/1/hi/uk_politics/7787770.stm

moonrakerz

" Customers from the East Midlands, East of England and North West, who buy just electricity from E.On, will see their annual bills reduced by £14 "

Wow ! can't wait :rolleyes:

1carminestocky

Let's hope they can rush these measures through. Seriously, do the energy companies have an embarrassment threshold higher than Everest?? The fact that they have to be FORCED by LAW to bring their prices into line with those charged by most other businesses in these recessionary times is just a sad indictment of where we've arrived at since privatisation. This is an industry bereft of morals.

worldwheeler

This is just rhetoric on behalf of the government. They have already signed the British population up to paying more for energy to achieve the EU carbon reductions and renewable energy. So do not hold out for reduced energy prices. As Brown said a couple of days ago they are looking to achieve distance from "volatile" oil prices?! Funny how this distancing comes to the fore when oil prices have plunged??
Wind farms will ensure energy prices stay high and cause an unstable electric grid and maybe even power cuts for the nation. BUT, reassuringly they will return massive profits via subsidies and high KWH prices for the installers.

adprob

I can remember a member of the govt suggesting in the summer that prices should increase to "force" customers to user less electricity to meet carbon reduction targets. It's typical politicians to jump on whatever bandwaggon is passing. Once prices come down and public opinion has simmered down they will change their minds again!

Joyful

If the companies are forced to reduce prices immediately after they fall surely they should also be allowed to increase as soon as they rise? Companies last year did not pass on all the rise to their customers. I personally think it's a lot of hot air. The Government want the energy companies to subsidies the less well of and spend money on renewables. Where do they expect the money to come from?

AstarothCY

There's already a lot of relevant discussion in this thread. No need to split it.