Gas and electricity bills could rise by ANOTHER £105 this year - News - Evening Standard
       

Gas and electricity bills could rise by ANOTHER £105 this year

Rise: Gas and electricity bills could become even higher this year
The outlook for households became even gloomier today as it was predicted gas and electricity bills could rise by a further 10 per cent this year if wholesale energy prices continue to increase.

Price comparison website uSwitch.com said another hike of up to 10 percent would increase a typical consumer's dual fuel energy bill by a further £105 to £1,153 a year

The prediction came as Scottish and Southern Energy became the last of the UK's six main suppliers to increase fuel bills, raising its tariffs by an average of 14.2 percent for electricity and 15.8 percent for gas from April 1.

USwitch.com warned that the price of gas on the forward market for next winter is 22 percent higher than it is at present, making the cost of procuring energy more expensive for suppliers.

It said this cost was unlikely to be absorbed by energy companies, suggesting consumers' bills still have further to rise.

Tim Wolfenden, head of home services at uSwitch.com, said: "Consumers cannot afford to breathe a sigh of relief yet - the way the market is looking at the moment, we can expect a second round of energy price hikes which could add up to 10 percent, or £105, to household bills.

"Increases in the cost of gas on the forward market will make further price rises inevitable before the end of the year - the industry has margins to protect and shareholders to satisfy.

"It will not meet all the cost out of its own pockets and is likely to ask customers to help cover the burden."

Comments

Don't Miss
Dog save the Queen: Corgis surge in popularity

Dog save the Queen

Corgis surge in popularity
London gets ready for the Diamond Jubilee - in pictures

Diamond Jubilee

London gets ready - in pictures
'He’s a better ex than he was a husband', says Boris Johnson's ex wife

A better ex than husband

We talk to Boris Johnson's ex wife
TV Baftas - in pictures

Best of the Baftas

Stars on the red, white and blue carpet
You big softie: Has Giles Coren put down his poison pen?

You big softie

Has Giles Coren put down his poison pen?
Pop star Paloma Faith, former Labour minister and Tory blogger back gay marriage video

Gay marriage

Pop star, former Labour minister and Tory blogger back gay marriage video
Promethipedia: the lowdown on Ridley Scott's new blockbuster Prometheus

Promethipedia

The lowdown on Ridley Scott's new blockbuster Prometheus
Prints charming: patterned trousers for summer

Prints charming

Patterned trousers for summer
Bob Geldof on grandchildren, activism and the state of music

Grandpa Bob

Bob Geldof on grandchildren, activism and the state of music
The Middletan: Kate Middleton has the most requested tan in London

The Middletan

Kate Middleton has the most requested tan in London