Energy prices 'don't compensate last year's hikes'

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The recent reduction in energy prices by major players in the British electricity and gas markets are "too little, too late", it has been claimed.

According to energy expert Becca Talbot, the reduction in cost for consumers at the start of this year does not compensate for the record price hikes experienced in 2008.

Four of Britain's big six energy suppliers have cut their prices, however, the majority of the reductions will not take effect until the end of March.

Ms Talbot adds that the cuts represent an average saving of 4.5 per cent for a regular dual fuel users annual energy bill.

She claimed this amounts to a small reduction when compared with the 51 per cent increase in gas prices and 28 per cent increase in electricity costs witnessed over the course of last year.

Meanwhile, Welsh MP Stephen Crabb told the Western Mail that the government had been "breathtakingly slow" in constructing gas storage facilities.

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