Homeowners in the UK have been hit by wave after wave of energy price increases over the last few years, putting a strain on already squeezed household budgets. During 2011, the Big Six energy suppliers – British Gas, EDF Energy, SSE, E.ON, Scottish Power and Npower – have continually come under fire for raising their rates, leading to more people switching to alternative energy sources like Evoenergy solar panels.
In July, British Gas announced that gas and electricity would cost 18 per cent and 16 per cent more respectively. This was followed in August by E.ON increasing electricity prices by 11.4 per cent and gas by 18.1 per cent, while in November EDF’s gas and electricity prices went up by 4.5 per cent and 15.4 per cent respectively.
A survey by independent energy firm SmartestEnergy recently predicted that wholesale energy prices will rise by at least 40 per cent over the next decade. Based on the responses of 71 leading industry figures, the study found that more than a third believed costs will hit between £70 and £79.99 per MWh by 2021, while just eight per cent thought prices would be the same or lower than today’s. Continue Reading →