SimplySwitch comments on E.On’s first quarter trading statement

Karen Darby, founder of SimplySwitch.com said: “Energy suppliers are clearly benefiting from strong profits, which is bad news for consumers who have seen their own power prices double in less than three years.

“Recent price changes have resulted in better deals, but since this time last year wholesale prices have fallen by nearly 60%. So far, none of the energy suppliers has reduced its prices by anywhere near the amount that they raised them in the preceding 12 months. Consumers feel that suppliers were quick to increase prices but that they are protecting their profits by dragging their heels and not passing on savings.”