The energy expert added that gas and electricity prices are linked to oil prices and it takes time for consumers to see price drops following reductions to wholesale costs as many power companies buy "several months in advance".
Mr Hunter did however state that there should be room for "double digit" drops in energy prices "as soon as next month".
He said: "It is clear there will be room for reductions in prices, and there will be huge political pressure for them to act."
Leading energy firm E.ON recently announced it was reducing its annual electricity bills for consumers not on a mains gas supply by £14 per quarter.
The drops apply to its customers in the East Midlands, east of England and the north-west.
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