Breaking News from energyhelpline.com: the gas & electricity switching service that compares all energy suppliers: Wholesale energy prices continue to slide - 01/05/2009
Wholesale energy prices are continuing to trade at low prices, putting more pressure on suppliers to pass on the reductions to consumers.
Gas prices have remained low over recent months and experts have warned they could reach new lows in the coming weeks, amid concerns over the stability of the global economy.
However, many gas and electricity suppliers have so far failed to lower prices to the same extent as they raised them when wholesale prices were soaring.
Wholesale gas and electricity prices have dropped because the recession means many companies and homeowners are reducing the amount of energy they use in a bid to cut costs, resulting in plenty of supply.
Liberal Democrat MP John Barrett has tabled an Early Day Motion in Parliament urging energy suppliers to cut their prices to consumers and offer cheap energy to homeowners and businesses alike during the recession.
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