New Year could bring energy price increases
Published On 15 December 2006
Energy bills are set to soar in 2007 as major suppliers hike up prices in the New Year, research from moneysupermarket.com has revealed. On New Year's Day, Scottish and Southern Energy are increasing gas prices by 12.2 per cent and electricity by 9.4 per cent, bringing a total annual energy bill to an average of £927.20.
Energy giant British Gas has confirmed that just eight days later the "price freeze" on its click energy online tariff will be lifted. This will lead to an average increase of £103.57 a year – making it the most expensive online tariff on the market.
Moneysupermarket.com said people had been subject to unprecedented price hikes by the "big six" energy suppliers in 2006.
"With cold winter months still to come, it looks like some people will bear a double brunt financially as the cost of keeping a house warm increases in the New Year," said head of utilities at moneysupermarket.com Paul Schofield.
"It is disgraceful that companies are announcing price hikes in the summer months and sneaking them in when the weather is at its coldest."
Moneysupermarket.com also said that despite the rise in the British Gas tariff, online deals could still work out cheaper.
Research from the price comparison site reveals that energy prices have risen by as much as 40 per cent since 2003. Britons waste around £5 billion worth of energy every year, and lose £1 billion by not switching energy supplier.
