ERA response to the uSwitch press release on energy prices

13th April 2007

"This research encourages people to have short-term memory loss and forget the real facts behind the story. The rarely-heard fact is that energy suppliers were slow to pass on the massive increases in wholesale prices. In fact, between June 2003 and June 2005 wholesale prices soared by 130% where as the average energy bill went up just 15%.

The huge increases in the wholesale price over the last three years still haven't been passed onto customers which is why there is this delay in any decrease.   This research should be taken with a large pinch of salt.

It has been produced by the very company which stands to make £600 million on the back of consumers switching supplier through its profit-making service."