UK energy industry watchdog Energywatch has welcomed the fact that half of the UK's major utilities have now announced upcoming price cuts. However, the organization said that the reductions offered do not go far enough.
<p>Powergen has become the latest British energy supplier to reveal plans to reduce prices, which Energywatch has welcomed. However, the reductions offered, 16% for gas and 5% for electricity in the case of Powergen, are insufficient according to the watchdog.<br /><br />According to the organization, wholesale prices have come down by 50% in the last six months, yet this has not translated to the tariff cuts offered by the utilities. Meanwhile, while gas prices have made headline news, when both going up last year and now coming down, Energywatch has criticized the utilities for offering tiny reductions on their electricity prices.<br /><br />Furthermore, with an estimated four million households across the UK in fuel poverty, Energywatch believes that the power companies could do more to help this vulnerable group.</p>