Energy firms make £1bn

Energy companies have been accused of overcharging-customers by more than £1 billion. Millions of households are paying an estimated £200 a year over the odds for fuel, because firms are quick to pass on price-increases when their costs rise. The comparison firm uSwitch says, suppliers withheld £177 in price-cuts from every household in Britain last year. Last week Npower, Britains fourth-largest supplier with 6m customers, raised the price of gas by 17.2% and electricity by 12.7%, blaming the rise in energy costs. Npower, whose average dual-fuel bill now costs more than £1,000 a year, did not start cutting tariffs - a year after prices started falling.

Via Sunday-Times

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