Act now to cut energy bills while MPs investigate rising price
26 February 2008
If you’re concerned about the recent energy price hikes, take heart – MPs are launching an inquiry as a result of sky-high increases, which will push the average household’s annual energy bills over the £1,000 mark.
British Gas, EDF, E.ON. npower and Scottish Power have all increased prices by more than 15 per cent in the opening weeks of 2008 and have come under fire by both consumer watchdogs and the media. Of the major suppliers, only Scottish and Southern Energy have yet to announce a double-digit price rise – they have said they will not change their prices until at least March.
As a result, the Business, Enterprise and Regulatory Reform select committee of MPs from all parties will investigate competition in the energy market and assess whether it benefits consumers. They will also be looking into wholesale energy markets – the energy companies have claimed that rises in the price of raw materials necessitated their own price increases.
"The inquiry could not have come at a better time. The fast and furious increases this year will have a serious impact on the one in six households stuck on the treadmill of fuel poverty," says Adam Scorer, campaigns director of the independent gas and electricity watchdog Energywatch.
Energywatch points out that half of all consumers and 65 per cent of pensioners have never switched suppliers, so there is considerable potential for many of us to find a better deal.
It is also worth investigating special deals for paying by direct debit and/or managing your account online.
LowerMyBills.co.uk can help you to discover if you’re already paying above average for your household energy, find the best deals from gas, electricity and dual fuel suppliers, and identify the supplier whose service best suits you.
See how you can lower your energy bills today.
Back to Top