29th Nov 2013 08:28
LONDON (Alliance News) - Renewable energy business Good Energy Group PLC Friday said it will freeze household prices until the end of March 2014.
Utilities companies have faced mounting pressure to justify bill increases, while posting huge profits, with all six of the largest energy companies in the UK announcing bill increases this winter.
However, the UK government has asked them to hold prices until the middle of 2015 barring any major increase in wholesale fuel costs.
The government wants to avoid another round of prices rises that could be blamed on green levies it introduced, the BBC reported Friday. It wants the commitment as part of a wider deal with firms that could cut annual householder energy bills by around GBP50.
It follows the Labour Party's promise to freeze energy prices for 20 months if it is elected.
Good Energy said it made the decision to hold prices as the majority of its external costs are not rising until April 2014.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
Copyright © 2013 Alliance News Limited. All Rights Reserved.
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