Responding to calls from the energy regulator Ofgem, the UK energy companies have told that there are little chances of a fall in retail energy prices in near future.
The companies such as Centrica, UK subsidiaries of Germany's E.ON and RWE, Spain's Iberdrola, France's Electricite de France, and Scottish and Southern Energy have argued that inspite of a recent plunge in wholesale energy price, forward annual prices for gas and electricity are higher for the year starting April 2010.
As per media reports, the energy suppliers said to the regulator that there is little chance of any further cuts in their tariffs in coming year, but they are likely to continue reviewing costs and the implications for prices.
According to the companies, rising network charges and the increasing cost of meeting environmental targets set by the government limit their ability to cut retail prices.
In August, Ofgem asked the energy firms to respond to a falling wholesale energy prices.
The companies such as Centrica, UK subsidiaries of Germany's E.ON and RWE, Spain's Iberdrola, France's Electricite de France, and Scottish and Southern Energy have argued that inspite of a recent plunge in wholesale energy price, forward annual prices for gas and electricity are higher for the year starting April 2010.
As per media reports, the energy suppliers said to the regulator that there is little chance of any further cuts in their tariffs in coming year, but they are likely to continue reviewing costs and the implications for prices.
According to the companies, rising network charges and the increasing cost of meeting environmental targets set by the government limit their ability to cut retail prices.
In August, Ofgem asked the energy firms to respond to a falling wholesale energy prices.
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