Energy providers have come under increasing pressure to pass current low oil prices on to consumers, who have become increasingly aware of the ease with which they can change suppliers through services such as uSwitch.com.

Now that oil prices have dropped to under $40 a barrel, consumers, many of whom have seen their energy costs triple in the last year, are looking for a light at the end of the tunnel. However, Dr Paul Golby, the U.K. chief executive of German utilities company E.On, says consumers will not benefit from low oil prices. He says profits are currently too low to enable providers to finance large capital projects, such as new power plants. Energy companies will be unable to fund these projects and supply may be affected. On the other hand, says Golby, customers may see lower costs if oil prices continue to fall.

Companies such as uSwitch.com help consumers to find the right utilities provider for their needs, and this has encouraged energy providers to offer more competitive rates. uSwitch is a free switching service that allows customers to shop around and find the best prices of a wide range of products and services, including gas and electricity, telephone, broadband and many financial products such as insurance and credit cards.

Chris Eagle, commercial manager of Energy Choices.co.uk, does not believe customers should pay for these capital investments. Eagle maintains that it is the responsibility of government to ensure that new sources of environmentally friendly energy are found and funded.