Profits and price hikes add to winter blues - Gas and electricity - News - Moneyfacts


Profits and price hikes add to winter blues

Profits and price hikes add to winter blues

Category: Gas and electricity

Updated: 15/11/2012
First Published: 15/11/2012

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

The energy firms SSE and Centrica, the parent company of British Gas, have both announced mammoth half-yearly profits over the past 24 hours, angering customers who have borne the brunt of recent price rises.

SSE was the first energy provider to announce energy price increases back in August, resulting in around 115,000 disgruntled customers seeking custom elsewhere.

A number of other providers have since followed suit, impacting on households already struggling with the spiralling cost of living. Shockingly, the average energy bill in the UK over the next year is expected to reach £1,392.

Mark Todd, director of independent energy price comparison service, urged customers to switch energy providers before the weather turns for the worse.

"The only people who seem to be really winning in today's energy market are the companies and their shareholders," he said.

"Customers need to start getting better value. Energy needs to be a feel-good product not the feel-bad one that it seems to have become.

"Whilst consumers may feel powerless to prevent price rises they do have the power to switch suppliers and save money.

"With price rises from all major suppliers looking certain, there are some fixed rate tariffs available now which will allow some consumers to spend this winter with the heating turned on without having to worry about the cost."

See if you can save, compare gas and electricity prices against your current bill

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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