‘Big 6 officials should taken out and shot over rising costs, missed efficiencies' - property management chief says
Consumers need to tell Ofgem the situation is ‘unacceptable,' Davies says
Officials of the UK's "Big Six" energy companies should be taken out and shot for profiteering and exploitation of consumers, said Will Davies, MD of aspect.co.uk.
"The 'Big Six' have made absolutely no effort to pursue savings through efficiency and pass those savings onto consumers in their bills. They continue overcharging customers to subsidise cheap offers," Davies said.
The "Big Six" energy firms (EDF, E.on, British Gas, nPower, Scottish Power and SSE) collectively supply 99 percent of British homes with heating and lighting.
As MD ofwww.aspect.co.uk,a leading property maintenance and refurbishment company, Davies is in an excellent position to see the results of the energy companies' predatory pricing.
"When we do a refurbishment, it's often a homeowner trying to make their home more energy efficient and bring down their monthly bills. The energy companies could learn from that," he said.
Davies cited a recent Institute for Public Policy Research's recent analysis showing energy consumers will pay £2 billion than the actual cost of the energy by 2020, barring stricter market regulation by Ofgem.
Improved competition and fair pricing is needed, he said.
In its report, "True Cost of Energy," the London-based think tank estimated the true costs for energy companies to supply households with gas and electricity for the financial year 2011-12.
It included several scenarios involving different levels of competition and examining how they could affect household energy bills in 2020.
The analysis showed that annual efficiency savings of just 2.5% could deliver £1.9 billion in savings in 2020, an average of £70 for the average household annually.
However, Ofgem's own evidence gave no indication the 'Big Six' energy companies PICTURE:have made efficiency savings and passed them onto consumers through lower bills.
The report also found some households pay £330 more than their neighbours next door for the same energy from the same company.
"That is absolutely asinine. That it's even allowed to continue is borderline criminal. All this occurs while the Big Six's profits have increased from£15 per customer to £125.The UK energy market needs real competition," Davies said.
Ofgem needs to step up and create competition in the energy market by doing its job and enforcing the appropriate regulations, he said.
Davies noted the Labour Party has declared that it will attack the Big Six's market stranglehold that shuts out new companies and keeps energy bills rising. However, it shouldn't take a new government to bring this outrageous situation under control, he said.
"Consumers need to let Ofgem and the rest of the Government know that these high energy costs and closed markets are unacceptable in a free society and are severely impacting the average UK resident," Davies said.
--ENDS--
NOTES TO EDITORS:
www.aspect.co.ukis a leading property maintenance and refurbishment company operating across the domestic and commercial sectors, 24 hours per day. With the tagline - ‘one call property care',www.aspect.co.ukmanages all maintenance issues, from the drains to the roof and everything in between.
The company's moto is‘fix, support and refresh'
Fix - emergency repairs
Support - through the company's planned maintenance team
Refresh - through the company's installation and refurbishment team
aspect.co.uk has a fully-skilled workforce - from versatile handymen to qualified technicians, including gas engineers, plumbers, decorators and drainage specialists. The company has an impressive list of accreditations and sets new, modern, professional and award-winning standards for property maintenance.
The company uses cutting edge technology to enable its workforce and ensure best customer practice, and high levels of performance.
Founded in 2004, aspect.co.uk has grown at over 100% year-on-year. The company is based in South West London, and operates primarily across the city and all areas inside the M25. In July 2011, the company launched its nationwide franchise business.
PICTURES:
Will Davies
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