Energy prices are a major issue for UK households and businesses alike. What promises are campaigning political parties making for the price of heating in their term in government? We're cutting through the industry-jargon to compare the manifestos of the Conservatives, Labour, the Liberal Democrats, UKIP and the Green Party. Find out who is promising what for UK energy prices: including everything from household insulation loans to reforms of the energy market.
Tagged with 'energyprices'
A uSwitch survey published last week reveals how millions of people went without heating this winter because of the elevated cost of energy. The survey demonstrates the scale of the problem, the impact on health and the measures everyday people have taken to warm their homes more cheaply - or to avoid heating them altogether. It's a harsh reminder of the realities of a cold winter and unforgiving energy prices - and proof that higher energy prices aren't just an inconvenience, they're a nationwide gamble that puts public health at risk.
There's a good chance that if you own or rent a property, your energy is being supplied by Npower, Eon, SSE, Scottish Power, British Gas or EDF. Sound familiar? That's because they've got over 90% of the UK market and it's been that way for years. Energy prices are steadily going up though, and it's causing people to start looking elsewhere, at other deals from different companies - but who are they? Here are some alternatives to consider that might just save you a few pounds...
Due to all the negative media coverage surrounding energy prices in the UK, it may come as a surprise to learn that energy consumption is lower than it has been for 20 years in the EU. Energy efficient electrical products and Governmental guidelines are thought to be behind the reduction in energy usage. But what's really driving it? And how can you do your part while also keeping your bills low?
Consumer watchdogs, Which? have spoken out today claiming that energy prices could have been lowered considerably more in light of falling energy wholesale costs. According to its research, £2.9 billion could have been saved across the UK last year - that's around £145 per household. So why haven't the savings that energy companies are making on the wholesale cost of their energy being passed onto consumers?
Every one of the Big Six energy companies have now lowered their gas prices due to a fall in the wholesale price, but how pleased should we be about it? On the one hand, it's good that those savings have been passed on, on the other hand, it took a lot of noise to make it happen and the savings could have been far greater. For those of us who've made the jump to greener, more energy efficient electrical heating solutions there isn't much to fuss over, but we still need to be sure when it comes to placing our trust in companies that provide our homes with energy.
If you paid any attention to the news recently you'll know that gas and oil wholesale prices have been taking a plummet, but what does that mean for us homeowners? Initially it didn't mean anything, and energy prices didn't budge for consumers, but now the Big Six are set to slash their gas prices by the end of January following an outcry from watchdogs and consumer groups. It's not much, averaging at around 7%, but it's encouraging that some of the savings are being passed on. Should this deter you from upgrading to an energy efficient electrical heating system though?
With the cost of oil plummeting, many people are starting to wonder why the obvious saving that energy companies are making isn't being passed directly onto consumers. Earlier this week, a Government official wrote to the 'Big Six' energy suppliers to ask them why their tariffs hadn't been reduced since the oil price plunge reduced their costs. Smaller, independent energy suppliers have managed to pass savings on, so what's the hold up? Are you considering switching your energy supplier?
Recent research has shown that energy bills could be set to sky rocket in the next year or so, starting next month when many 'fixed term' tariffs with energy companies will be coming to a natural end. It's thought that new tariffs to replace the old ones could be weighing in at £198 more. It's indicative of a trend in the past year of rising energy costs and uncertainty among customers - so what can you do shield yourself from the increase? There are a few steps you can take to at least minimise the impact, and save some cash...
Whether you're north or south of the Scottish border, a 'yes' vote in this week's referendum is bound to have a pretty profound impact on all kinds of things, from stamps to petrol. One question on everybody's lips though, is what it'll mean for their average household energy bill. Should you be worried? If you live in Scotland will you pay more after independence? Shouldn't Scotland be able to support themselves with renewable energy? We'll touch upon these issues and more...