PRIVATISED energy firm British gas plans to cut gas charges to five per cent from February 27.
E.on cut gas charges by 3.5 per cent, EDF (French owned) will cut gas charges by 1.3 per cent on February 11, SSE to cut gas charges by 4.1 per cent from April.
Not much considering that oil costs are down 50 per cent and energy costs down 30 per cent.
The energy regulator Ofgem has no powers to make energy companies cut charges. What is the point of having a regulator that has very little powers?
Why hasn’t this Tory-led government given Ofgem some teeth? Answer: because it was the Tories that privatised the former public utilities in order for them to make profit from them.
So the Tories won’t rush to make them cut costs as that would cut their profits.
If ever there was a reason why these and other utilities should never have been privatised, then this is it.
Quick to put charges up and very slow to reduce charges when the cost comes down to them.
Competition is not working Mr Cameron.
KEVIN MANNION Orford
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