He added that profits across the board need to be higher in order to invest around £100 billion to build new power and wind farms to meet environmental targets imposed on the industry.
Mr Golby said: "If wholesale gas prices have fallen by a third, it does not mean retail prices will go down by the same amount."
E.ON recently donated £20,000 to the Magdalen Project in Chard in order to help them fund a new biomass boiler.
The installation is expected to reduce the charity's annual fuel bill by up to 70 per cent.
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