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MP slams energy companies for treating consumers as 'Cash cows'
October 31, 2012 10:24 AM
Local MP Tim Farron has today blasted the 'big six' energy companies for continuing to push for inflation busting price rises which hurt people in the South Lakes and treat them as 'cash cows'.
EDF Energy last week announced an increase in electricity and gas prices for residential customers by 10.8% from December 7, 2012. Earlier this month Npower became the third of the so-called Big Six energy firms to confirm steep rises in its gas and electricity bills ahead of winter.
It said bills would increase by an average 8.8% for gas and 9.1% for electricity from November 26th.
Just hours beforehand British Gas confirmed its average dual fuel tariff would rise by 6% - or £80 annually - from November 16.
Tim has previously written to OFGEM to raise the issue of the rises in gas and electricity bills. The rise in prices would negatively influence many people in the South Lakes. Tim has also called for OFGEM to be stronger and has said that if they don't act he will ask the government to step in and regulate the market more strongly.
Commenting, Tim said "Families in South Lakeland cannot afford 10% price rises - it is obscene when theenergy companies are making such huge profits! British Gas made pre tax profits of £1.92 billion pounds in 2011; up 18%. The big six energy companies are treating people like cash cows and this must end!
"I am today calling on OFGEM to act and if they don't I will push strongly for the government to step in and look at amending the forthcoming energy bill to help bring down prices."
"The Energy companies are drinking in the last chance saloon - they cannot just keep hiking up prices. They must be made to realise that they are could face stringent regulation that would severely hamper their future profits if they do not treat their customers fairly"