Friday, 20 January 2012

Businesses told not to be fooled by ‘Big Six’ #energy prices cuts

Business are being warned not to be fooled by the price cuts being announced by the 'Big Six’ energy firms, and instead brace themselves for increasing energy costs in the non-domestic market.

ScottishPower and E.ON, yesterday, became the last of the 'Big Six’ to pass energy price cuts in the wholesale market onto their domestic customers.

However, businesses are being told not to take this as a sign that energy tariffs for business customers are going to follow suit.
"Don’t fall into the mistaken belief that the price cuts being announced are going to be passed onto business customers. It’s not true," Nick Heath, spokesperson for energy broker Make It Cheaper told GreenWise. "If businesses sit back and do nothing, they are actually going to see their tariffs go up because roll-over rates are actually 50 per cent higher."

According to research commissioned, last year, by Make It Cheaper from the Centre for Economics and Business Research, by the end of 2012, business gas and electricity prices are actually expected to go up by 15 per cent.

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