Sir, – In relation to a query by a reader (David Cooke, February 26th) as to the huge difference between wholesale and retail energy prices, and why consumers are not benefiting from reduced wholesale prices, the Commission for Energy Regulation responded by advocating that consumers should be more active in switching suppliers (March 2nd). However, the switching rate in Ireland is already quite high. Over 16 per cent of electricity customers and 17 per cent of gas customers switched supplier between the third quarter of 2014 and the second quarter of 2015.
In 2014, the UK regulator Ofgem commissioned a major competition investigation in the British energy market after huge profits were being reported.
The Commission for Energy Regulation should rigorously monitor the profit margins of Irish energy suppliers and take the necessary measures to ensure consumers are getting better energy prices. That is within its remit. – Yours, etc,
RICHARD COFFEY,
Terenure,
Dublin 6W.