going up
The ‘big six’ energy suppliers are expected to raise their prices for the first time in three years over Christmas, leaving families with one hell of an unwanted gift.
Rising energy bills
Research by the BBC has found that one in ten families in the UK cannot afford their winter heating bills. By next year, they could be paying as much as £100 more on their annual bills.
Brexit is thought to be at least partially responsible for the perceived need to raise prices. SSE, EDF Energy, British Gas, Npower, E.ON and Scottish Power are all expected to comply.
Wholesale gas and electricity prices have risen by about 40-60% since March. And the fall in the value of sterling against the euro has meant that imports from Europe are about 10% higher. Smaller energy firms were the first to respond. The Co-op increased its dual-fuel bills by 3% in October. Ovo Energy followed suit with a rise of 7%, while GB Energy Supply increased their bills by a whopping 30% in November. Alistair Phillips-Davies, chief executive of SSE, said at an analyst briefing.
