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Households 'losing out' to energy firms

Each household in the UK is losing around £200 a year because energy firms are yet to cut bills in line with reduced wholesale prices, a report from claims.The report, published today, claims that Britain's major energy suppliers are keeping the cost of household bills "inflated" despite recent price cuts across the industry which saw the average yearly bill drop by around £78.Recent price cuts have brought average annual energy bills down from £1,013 to £935, according to the report, yet the website says more money should be knocked off consumer bills."It's not unreasonable to expect some generous reductions now that wholesale costs have fallen," Ann Robinson, director of consumer policy at, said."Instead, suppliers are handing back a derisory £78 and are using smoke and mirrors to obscure the fact that they are still pocketing an extra £200 per household."However the Energy Retail Association (ERA), which represents Britain's electricity and gas suppliers in the domestic market, has hit back at the report.ERA chief executive Duncan Sedgwick said that the six firms in the ERA, including British Gas, nPower and Powergen, were not ripping off consumers but instead noted that energy companies had delayed passing on the rises in the wholesale price of gas to customers.

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