Gas bills could rocket within the space of a year
A recent report claims that gas bills could rocket within the space of a year, with some households paying in excess of £1000 a year for their gas usage. The cost of gas usage went up earlier this year, along with electricity prices, and the energy firms are now in the process of raising prices or arrange price raises for later in the year, blaming a rise in the cist of wholesale energy prices for the increase in energy usage costs.
The cost of energy usage could get so high those consumers have to change their lifestyles, accord to some officials.
One official said: ‘People will change the temperature in the house. Maybe it will be a case of two jumpers instead of one. They will be more cognisant of energy waste and will buy better appliances.’
Readings in a recently released energy report stated: ‘Domestic users have to adjust to higher gas prices and prepare for a future where energy costs will account for a more significant proportion of the household budget.’
It adds: ‘The Government will have to take appropriate steps to alleviate fuel poverty and manage the social and economic impact of demand destruction’.
One official was concerned about the link between the price of oil and energy, stating: ‘The Government should be leading an international drive to unravel the artificial and toxic link between the price of gas and the price of a barrel of oil. The link to oil means that wholesale gas is selling for five times the Government’s estimate of its production costs.’
He added: ‘High energy prices are already undermining UK plc and increases on the predicted scale will cause untold damage for individual consumers and the wider economy. Rampaging oil prices are a serious and global contagion. That does not mean we should just take to our beds and hope that the fever will pass. Government can and should act in those areas where it can have an effect. Action to cut to the price link between gas and oil, action to improve the working of the domestic market, action to help those who can least afford to keep warm.’
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