The energy regulator has warned gas suppliers not to fail to pass on a recent drop in wholesale prices to consumers. “As prices are falling and we have this uncomfortable lag between the wholesale price and the retail price (we are warning companies) if we start to feel through 2007 that you are wanting to keep some of the jam on your fingers, then we have very stringent powers under the Competition Act,” Ofgem Chief Executive Alistair Buchanan was quoted as saying in an interview published on Sunday. Gas prices have fallen in recent months on the back of rising supply via new import pipelines. “Even if we had the coldest day that we had last year, we arguably would have 20 percent surplus capacity to meet (demand on that day,” Buchanan was quoted saying in the Sunday Telegraph.
This post has been viewed 273 times.Related posts...
- June 22, 2010 -- UK Business Energy Prices: (3)
A new survey carried out by the Economist Intelligence Unit has revealed that over 80% of British firms expect energy and fuel prices to rise sharply and almost 50% have great concern that the UK coul... - February 21, 2010 -- Identifying a Half Hour Meter: (0)
How to find out if you have a half hourly meter –
So how do you know if you have a half hour meter? It’s actually quite straight forward, and all you will need to find this out is a recent copy o... - February 10, 2010 -- UK Business Gas Prices: (0)
Business Gas Prices can be difficult to understand, as there are many different types of pricing structures available. You could simply ring around and obtain gas prices direct from suppliers, but it... - February 7, 2010 -- Oil Prices Back To $70 Range: (0)
Oil prices plunged in a busy trading session on Friday, triggering big losses across the commodities markets, as investors went back to buying into the US dollar. Crude oil prices did have a partial ... - February 5, 2010 -- CRC Business Lights: (1)
The era of the 'on-all-night' illuminated high street could end, the Environment Agency is predicting. The agency says new rules will force businesses to switch off lights and displays at night to mee... - February 3, 2010 -- Bglobal Smart Meter Deal: (3)
Bglobal Plc said it has signed a new agreement to supply and install smart meters for British Gas Business during 2010. The contract value is anticipated at more than £12 million. In addition, the com...
UK Gas Prices Down:
RSS feed for comments on this post. TrackBack URI
Leave a commentYou must be logged in to post a comment.