Energy price increases described as depressing

Over recent years there has been a lot of controversy over the amount that customers have been charged for their energy usage in the UK, and whilst prices have gone up and down the UK’s major energy suppliers have been accused of being quick to increase prices when the cost of wholesale energy goes up but being very slow to apply changes when the costs go down.

One comparison site, confused.com, has recently stated that the price of energy usage looks as though it is set to increase again, and has described this as ‘depressing’. One official from the company said that the end of cheap energy rates was coming from some providers, and this would make for depressing news for households, many of which are already struggling with their finances.

Energy analyst, Lisa Greenfield, said that companies such as E.On and EDF Energy looked set to end cheap rate offers, and on top of this it looked as thought the cost of wholesale energy was set to increase again. This, she said, all pointed towards energy prices in the UK increasing, and would come as bad news for those that were already on the financial edge. The move could once again send many households into fuel poverty, where 10 percent of more of their household income goes on energy costs.

Greenfield did suggest that those looking to avoid having to pay more on their gas and electricity bills, at least for the foreseeable future, could go online and compare energy prices from a range of other suppliers. She said that it could be worth consumers trying to find a cheap, fixed deal with energy suppliers before the deals were withdrawn, as they could then lock in a lower price for a set period of time to save money on their monthly gas and electric bills.