Energy price cuts

Responding to recent media reports that gas and electricity prices may fall by as much as 10 per cent for millions of families as a result of the mild winter, Age Cymru’s Graeme Francis says:

“Energy companies are often criticised for appearing to pass on price rises much quicker than they cut bills when the wholesale cost of fuel goes down. It is time for them to prove that this is not always the case.

“Fuel poverty - a situation where households spend 10 per cent of more of their incomes on heating, affects an estimated 320,000 households in Wales.

“One of the key contributory factors in fuel poverty is the cost of energy which has continued to spiral in recent years over the cold winters.

“Age Cymru hopes that the news that the wholesale price of gas has plummeted by as much as 25 per cent because of the unseasonably warm weather will result in a cut in energy prices that will be so welcomed by energy consumers across the country.”