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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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Candidate calls for urgent action on gas prices from the regulator.
April 26, 2007 12:00 AM
Welsh Liberal Democrat candidate for Gower and Dunvant councillor Nick Tregoning has called for the gas regulator Ofgen to take urgent action to force gas companies to pass on the huge savings that they have made on the wholesale price of gas to their residential customers.
Of the six main gas producers, two (British Gas and Scottish Gas) have cut prices, two (Powergen and Npower) say they will, and two (EDF and Scottish Power) have yet to make a statement.
"Wholesale gas prices have been falling for nine months," said local campaigner Nick Tregoning. "I know that those who have reduced customer prices have done so by around 17%, and of course that is welcome. However, the percentage decrease in the wholesale price of gas is 50% since June 2006. What is going on here?"
"We were told that competition would drive prices down. Well, it doesn't seem to be working too well in this instance. It is high time the regulator stepped in. Last September, when this issue first surfaced, Ofgen promised 'a thorough review'. Now it seems they are perfectly happy to leave it to the market. That isn't good enough. Ofgen is supposed to regulate the market in the best interests of the consumer. There are many people in Gower who make ends meet on low and fixed incomes, and even a small reduction in energy prices would be of great help. That is why I am calling on the regulator to do something now to ensure that wholesale and retail prices come into balance."
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