Energy Bills Set For A Massive Rise
To date there has been much speculation about the future level of household energy prices with many observers criticised for suggesting that bills could rise by as much as 40% over the rest of 2008. Unfortunately, after representations to the commons committee by Dr Paul Golby, the chief executive of E.ON UK, it seems as though this much rumoured 40% rise may not be too far from the truth.
Dr Golby has confirmed a 60% increase in the price of gas and coal over the last four months and warned the commons committee looking into energy prices that the pressure is most definitely on the upside. While the company were unwilling to mention exact figures the suggestion is that we will see substantial increases over the next few months, perhaps phased in to avoid too much backlash from the public.
In a separate incident today there have also been calls from Help The Aged to assist the poor as more recent price rises continue to hit the elderly hard. At this moment in time it looks as though the government are unwilling or unable to assist, even though associations like Help The Aged expect to see a major increase in those suffering.
Share this..
Related stories
Tory party to set up a new consumer champion
As part of the Tory party's wide-ranging restructuring of the UK financial sector a new consumer champion will be set up to protect the rights of consumers in the UK. The move has been well received in the markets as has the wider issue of stripping all power from the FSA (Financial Services Authority) and reverting to the pre-1997 system which saw the Bank of England the main regulator of the UK...
Read MoreGovernment to raise savings guarantee
From today, the government will protect the first £35,000 of savings deposited in the case of the collapse of a bank or building society. Alistair Darling, the Chancellor, unveiled the plans on the back of the Northern Rock crisis and has now said that the government will guarantee deposits of up to £35,000 held in all bank and building society accounts.He told BBC Radio 4's Today programme tha...
Read MoreBP shares fall back on profit-taking
BP shares have put on nearly 30% over last few days amid rumours that a number of companies may well be considering a takeover bid for the stricken UK oil group. This comes only days after it was reveal that "unofficially" the US authorities have given ExxonMobil the "go ahead" to consider an offer for BP. Whether this is correct or not remains to be seen but it has certainly caught the attention...
Read MoreBudget Headlines : Accountancy rules to be consolidated
Accountancy rules to be consolidated...
Read MoreWeaker economy means stronger savings, says F&C
A weaker economy will mean stronger savings, according to Jason Hollands, the head of group communications for leading investment house F&C. Mr Hollands explained that although the economic situation and the environment for investments would most likely be far more challenging in 2008, this meant that because people were reining in their spending, they would be saving more instead. He said: "Whe...
Read More