The main energy providers in the UK have informed OFGEM that they do not expect to cut prices in the near future. Their response comes on the back of mounting claims that these companies are making more profits as a result of lower wholesale gas and electricity prices but that none of these cuts were being passed on to consumers.

British Gas even hinted that it may look to increasing prices further as costs rise ever upwards which is definitly not what the British public is wanting to hear as the recession continues to bite and as the temperatures begin to fall outside.

So households should where possible shop around for the cheapest gas and electricity supplier by using a price comparison website and also look into the possibilities of capping or fixing rates if they believe that prices may rise again. Unfortunately with different reports saying different things it is unclear whether power prices will go up or down in 2010.