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Peter Black and South Wales West Liberal DemocratsRepresenting Aberavon, Bridgend, Gower, Neath, Ogmore, Port Talbot, and Swansea |
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AM challenges gas companies to play fair
October 11, 2006 2:12 PM
The Welsh Liberal Democrat Assembly Member for South Wales West, Peter Black, has issued a challenge to the gas companies to play fair by their customers following the recent headlong fall in the wholesale price of gas.
Mr. Black was reacting to the news that despite the householders paying up to 80% more for gas since 2004, this year has seen a drop in price - so much so, that last week gas suppliers were paying the gas companies to take it off their hands.
"At one point last week, the wholesale price of gas fell to minus 5p a therm," said Mr. Black. "Of course everyone understands that the gas we are using now was contracted for six months ago; however, it seems strange that the gas companies are not telling us that their prices will fall six months hence. There may well have been special factors why the price of gas was so low last week, but how is it that when the wholesale price of gas has fallen by 20% this year, suppliers are not falling over themselves to pass the benefit on to their customers? Why should it just be the shareholders who benefit? It's time for the companies to play fair."
"When the Tories privatised British Gas twenty years ago, they made a lot of noise about how competition would lower the prices we all pay. Instead, it looks as though the consumer is the ultimate loser as the gas companies coin it in at both ends - getting higher prices from us while paying lower prices to their suppliers."
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