Energy supplier price cut criticised as 'measly' - 23/01/2009
The ten per cent gas price cut implemented by major energy supplier British Gas has been described as "measly" by one critic, reports Times Online.
Damien Cox, an analyst at energy industry advisory firm John Hall Associates, has expressed his disappointment that the energy supplier did not commit to a more substantial reduction.
Wholesale market costs have declined massively since their peak last summer when the price of a barrel of oil surged to almost $150, and many critics believe that energy suppliers should be able to offer bigger cuts.
Mr Cox told the website: "I think it's disappointing that they have not done more. We would have hoped that they would have been able to cut by more than a measly ten per cent."
British Gas has rejected criticism, saying that the discount reflects current wholesale market costs and the scale of discounts that can now be offered to its customers.
British Gas is owned by parent company Centrica and has nearly 16 million customers across the UK.
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