This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/7883168.stm
The article has changed 4 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Energy prices 'will be cut soon' | Energy prices 'will be cut soon' |
| (10 minutes later) | |
| Executives from the four major energy firms yet to cut prices in 2009 have said they are "optimistic" that gas and electricity prices will fall soon. | Executives from the four major energy firms yet to cut prices in 2009 have said they are "optimistic" that gas and electricity prices will fall soon. |
| But the senior figures from Npower, EDF Energy, Eon and Scottish Power told MPs that they could not reveal when such moves would be made. | But the senior figures from Npower, EDF Energy, Eon and Scottish Power told MPs that they could not reveal when such moves would be made. |
| British Gas and Scottish and Southern Energy (SSE) have already trimmed bills for some of their customers. | British Gas and Scottish and Southern Energy (SSE) have already trimmed bills for some of their customers. |
| However, further cuts may not be forthcoming, one executive warned. | However, further cuts may not be forthcoming, one executive warned. |
| Wholesale energy prices for 2010 are about 10% higher than they are now, SSE's chief executive Ian Marchant told the Energy and Climate Change Committee | Wholesale energy prices for 2010 are about 10% higher than they are now, SSE's chief executive Ian Marchant told the Energy and Climate Change Committee |
| "I'm concerned that if the wholesale price increases we might see an increase," he said. | "I'm concerned that if the wholesale price increases we might see an increase," he said. |
| "I would have expected us to see another round of decreases (in energy bills) later this year or early next year, but objective analysis suggests that this might not happen." | "I would have expected us to see another round of decreases (in energy bills) later this year or early next year, but objective analysis suggests that this might not happen." |
| 'Low profits' | 'Low profits' |
| Soaring wholesale energy prices have pushed bills to record levels. | Soaring wholesale energy prices have pushed bills to record levels. |
| But energy bosses told the Energy and Climate Change Committee that while wholesale prices were 75% higher than February 2007, energy bills had risen by 30% that time. | But energy bosses told the Energy and Climate Change Committee that while wholesale prices were 75% higher than February 2007, energy bills had risen by 30% that time. |
| Nick Horler, chief executive of Scottish Power said the pricing of energy was a "positive story", and that his firm and others were helping UK customers. | Nick Horler, chief executive of Scottish Power said the pricing of energy was a "positive story", and that his firm and others were helping UK customers. |
| While some European customers faced bills based on the wholesale price of recent months, Scottish Power used its "size and strength" to buy energy in advance to "protect our customers from a volatile market", he said. | While some European customers faced bills based on the wholesale price of recent months, Scottish Power used its "size and strength" to buy energy in advance to "protect our customers from a volatile market", he said. |
| Scottish and Southern Energy has said that from the end of next month, its average prices for electricity customers will fall by 9% and average gas bills will be trimmed by 4% - the first price cut since March 2007. | Scottish and Southern Energy has said that from the end of next month, its average prices for electricity customers will fall by 9% and average gas bills will be trimmed by 4% - the first price cut since March 2007. |
| The firm's chief executive Ian Marchant told MPs he had "no idea" why many of his rivals were yet to cut prices. | The firm's chief executive Ian Marchant told MPs he had "no idea" why many of his rivals were yet to cut prices. |
| "It's the two British-listed companies who have made cuts this year. I don't know whether this is significant but it's an interesting question," he said. | |
| "Part of me hopes that they do not reduce prices because I can win customers - but that's not the right thing for the UK, so I hope they get off their backsides and do something." | "Part of me hopes that they do not reduce prices because I can win customers - but that's not the right thing for the UK, so I hope they get off their backsides and do something." |
| British Gas is to cut gas bills by 10% from 19 February - which it said would cut the average "dual fuel" customer's bill by £66. | British Gas is to cut gas bills by 10% from 19 February - which it said would cut the average "dual fuel" customer's bill by £66. |
| Chief executive Phil Bentley insisted that there was no huge profiteering by his company, saying that after tax, the firm made a profit of about £2 for every £100 of a domestic bill. | Chief executive Phil Bentley insisted that there was no huge profiteering by his company, saying that after tax, the firm made a profit of about £2 for every £100 of a domestic bill. |