U.K. energy firms ‘losing out’ despite soaring bills

Despite a spate of recent announcements by energy firms that bills are set to rise, a new report has suggested that suppliers are still not passing on the full cost of wholesale prices to consumers.

According to business research firm Datamonitor, the recent 22 per cent bill hike announced by British Gas, along with recent price increases by rival suppliers are wholly justified as soaring wholesale costs are hitting energy suppliers hard.