Like torrential rain in the middle of summer or the coming of yet another lurid phone-hacking revelation, energy suppliers taking turns to announce whopping price rises has become something of a grim inevitability.
Now, Scottish and Southern Energy has become the latest supplier to reveal significant price hikes, with customers set for rises of 18 per cent and 11 per cent for gas and electricity respectively. Over the past few weeks, Scottish Power and British Gas have both revealed similar changes to tariffs.
The company, which made a profit of £1.3 billion last year, argued that profiteering was “the perception but not the reality,” blaming wholesale energy price rises linked to the Japanese earthquake and conflict in the Middle East. Chief executive of Consumer Focus, Mike O’Connor, rubbished the argument that wholesale energy costs were responsible. “Although wholesale prices have risen recently, they remain around a third lower than their 2008 peak,” he argued.
Switch and save…
One of the best ways of saving money on your electricity and gas is by switching suppliers. But because of the bamboozling array of tariffs and pricing plans, consumers are often put off and stick with their current supplier, only to be ‘rewarded’ with higher and higher bills.
Funnily enough, if you’re looking to shop around the energy market, you’ve come to the right place – why not give Gocompare.com’s energy comparison service a whirl and see what you might save? At the moment, switching to a fixed energy tariff, which will see the prices you pay frozen for a particular duration of time, may be a good idea.