Gas bills could soar higher

The icy cold weather and snow has already struck in the UK, leaving many households having to turn up the heat in order to get warm. However, the cold snap has also caused gas prices in the country to rocket to their highest levels in eighteen months, causing concern amongst many households with regards to how they will cope with their increased bills.

With many still struggling in the continued difficult financial climate the prospect of even higher bills is one that will create concern and stress. The freezing temperatures has meant that households have had no option but to increase their heating, and on 5^th December demand for gas was 25 percent higher than it was on the same day last year, and the third highest daily amount on record.

The temperatures have hit unprecedented lows for this time of the year in many parts of the country, and this has seen demand for gas amongst households and businesses rocket.          The National Grid reported a huge increase in demand for power, and the surge in demand created concern in wholesale markets, sending the price of gas surging to its highest level in eighteen months at sixty two pence per therm, which reflected an increase of eleven pence.

With more and more people staying in the home to avoid the cold, turning up the heating, and trying to keep warm, energy bills are likely to rocket, and officials have warned that households need to brace themselves for a sharp increase in costs.

An official from Consumer Focus said: “We’ve been expecting it any day. If this cold weather continues causing high demand, the question is how much more will they need to go out and buy on the spot market. Our fear in these situations is that gas companies are able to talk up price rises on the back of unusual weather. We really wouldn’t want to see further rises because of this cold snap.”

Tags: market, Snow, energy bills, freezing, rocket, eleven pence, Heating

Households struggling with winter fuel bills

According to recent reports there are now many households that are struggling with winter fuel bills as a result of very cold weather coupled with lack of price cuts from energy suppliers. The high energy bills that some households are having to try and cope with will add further strain to the already difficult financial situations of many people.

The average amount that households are expected to pay for the fuel that they used over the winter period is £532.70, and this takes it above the previous record of £475, reflecting an increase of over £50. Many have been keeping the heating on for longer during the cold weather and this has driven up the cost of their energy bills.

Whilst the spring is officially here and summer is only around the corner there are still warnings of cold weather being released, and this means that consumers are likely to continue using their heating at a time of year when they might usually have stopped using it. Many are also putting the temperature up when using their heating, which can also make a big difference on bills.

The figures relating to winder fuel bills were put together by Energyhelpline.com, which has accused the government of failing to stand up for consumers. Whilst wholesale prices on energy have fallen dramatically by around 60 percent there are concerns that household energy usage costs have only dropped by around 15 percent coming nowhere near reflecting the saving that the energy firms are making.

Officials are also concerned that some people may be receiving inaccurate bills and paying more than they need to because they do not take the time to check the bills. Consumers are also being advised to try and switch providers to get a better deal.

Energyhelpline.com stated: ‘In a privatised energy market, there is little governments can do and they need to be honest and tell people that the only way to reduce their bills is by taking personal responsibility to find the best deals.’ 

Tags: energy, Heating, previous record, energy bills, market, energy suppliers

Increase in burst pipe claims due to colder weather

Recent reports have shown that the colder weather that has been seen in areas of the UK over recent weeks is resulting in a double whammy for many consumers. Read more

Tags: cold weather, surprise, insurance official, level, insurance providers, Heating, insurance claims