UK gas prices plunged to a record low today fuel poverty remains rife in Britain, with 2 million households, 10% of the population, unable to afford adequate heating.
Having already issued the annual, pre-Winter threat that they may not be able to 'keep the lights on' the power companies are now facing a few tough questions regarding how come our bills are not coming down with the cost 25% cheaper than this time last year especially as this is the major justification of putting them up.
Blaming 'soaring wholesale energy prices' to raise their gas prices by 35% with immediate effect, suppliers explained that 'wholesale prices are just part of the bill and, although reduced pressure on the wholesale gas market is good news in the long term, companies buy energy days, weeks, months and even years in advance to protect customers from sudden changes in costs, and will have bought gas when prices were higher'.
All that must mean that when we get the gas they purchased days, weeks, months or even a few years ago our bills will be slashed and all our gas bills will plunge to an all-time low as well.
Anything else would make us think that they have been ripping us all all along.