Millions of families face soaring gas and electricity bills this winter as energy giants prepare to boost profits
Households across the UK could see their gas and electricity bills soar this winter as energy companies prepare to boost profits from households, it has been reported.
Firms are set to increase profits from households from £45 to £65 - a jump of almost 50 per cent, according to the Daily Telegraph.
Britain's second largest energy company SSE has already confirmed that the price of a typical dual fuel bill will rise by nine per cent from mid-October, up from £1,172 to £1,274 a year.
The increase will affect as many as five million households.
British Gas - one of the 'big six' energy companies - has told 10 million households that their bills could go up by as much as £100 next year.
Earlier this month Scottish Power and First Utility also pulled their cheapest fixed rate deals.
The removal of these tariffs has left consumers with a dwindling range of options that offer both the peace of mind of a fixed price coupled with no exit penalties.
Experts have warned the average annual energy bill could rise by £118 to a record £1,428 next year, the Daily Telegraph reports.
Mark Todd, a director at Energyhelpline.com told the paper: 'From what we are hearing in the industry, price rises are already being worked out.