UK households could struggle with higher energy bills this winter, price comparison website EnergyHelpline claims. The website, which allows UK residents to shop for energy deals, believes that home energy bills could increase by as 10 percent prior to this year’s winter.
Director Mark Todd claims that there ‘are clear indications that energy price rises are close’ and that announcements may come shortly. The energy market could be described ‘as a volcano about to explode,’ the website’s director claims, citing the statements from firms such as British Gas over ‘inevitable’ price rises as proof.
Several newspapers have reported that energy prices are likely to rise before the winter, some voicing critical opinions of the country’s energy firms. An article in the Daily Express reported that British Gas and nPower stated that price rises were an inevitability, and that households should account for slightly higher energy bills.
Commentators have noted that prices for energy have continually risen as many of the country’s largest energy companies enjoyed record profits. Britain’s six biggest energy companies enjoyed a £3.3 billion combined profit since the last election as a growing number of British households have dealt with higher energy bills.
The average annual energy spending has increased by £300 per year in the period since the last election, with the average dual fuel bill now £1,420 annually. This is a significant increased from 2010, during which the average annual dual fuel bill was just £1,105 and price increases were largely a non-issue.
While energy industry spokespeople have claimed that companies need to increase profits in order to satisfy shareholders and secure employees, the proof is largely in the pricing. With bills up by £300 in just three years, Britain’s households may face a very expensive winter this year.
