Tuesday, 29 October 2013

Energy price rises - are we being ripped off?

So far, four of the big companies have announced increases that average 9.1%.

Ofgem data suggests that wholesale electricity and gas together have risen by just 1.7% over the last year.

It estimates the net effect of wholesale prices on a household bill should be just £10 extra on a bill of £600.
The energy firms are expected to insist that the rises were largely due to increasing wholesale prices, which was have just pointed out is not correct as wholesale prices have risen by less than the rate of inflation.

somehow I think the suppliers believe we will take the traditional winter price hike on the chin without questioning it. maybe they are just jumping the gun ahead of the Milliband price freeze combined with some clever accounting to hide some profit in the holding groups.

Are you feeling ripped off.

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