No Signs Of Collusion In The Energy Markets
Despite howls of protest from an array of consumer protection groups the government has stated that there are no signs of any collusion between the big six energy suppliers in the UK. While a more detailed report will be landing on desks in parliament over the next few weeks there are concerns that there is very little that the authorities can do.
The 20% price increase by EDF seems to be the 'straw which broke the camels back' and with others in the sector certain to follow suit the next few months will see the price of living rise substantially. While the authorities will claim they are listening and try to breakdown the figures in a more favourable light, the situation is dire for many in the UK. Already struggling to pay the current level of bills we will see literally millions more people on the breadline and struggling to make ends meet.
As the government is determined to cutback on benefit payments across the board it would seem there will be little help forthcoming from this area. However, if they tax the energy companies more to help those that are struggling, the energy companies will only pass the charges on, if they do nothing then the government will stand accused of neglecting those most in need. A no win situation in many ways.....
Share this..
Related stories
Royal Bank of Scotland increases credit card charges
Despite promises from the UK government that banks, were UK taxpayers hold significant stakes, would improve their terms for credit in the short to medium term, this does not appear to be the case at Royal Bank of Scotland. It's been revealed that NatWest (part of the Royal Bank of Scotland group) and Royal Bank of Scotland have increased their credit card purchase rates from 16.9% to 19.9%. They...
Read MoreBorrowers don’t consider balance transfer fees
23/09/2015 Borrowers may be paying more than expected in balance transfer credit card fees after being attracted by 0% interest offers, consumer group Which? has warned. Consumers pay an estimated £334 million in fees each year, but only a small amount of people understand the costs involved. Which? has claimed that 70% of people believe the transfers to be free. They are now arguing that t...
Read MoreIs the worst yet to come for the UK economy?
With more than 140,000 companies in the UK falling into financial trouble in the final quarter of 2009 there is a stark warning today that the worst of the UK economic downturn may be yet to come. While that is not to say that the UK economy is not starting to recover, the aftermath of what has been the worst economic downturn since the 1920s has still not hit home in many areas of the UK economy....
Read MoreIs Debt Consolidation Still An Option?
Multiple credit cards, overdrafts and loans are seemingly part of everyday life for many people in the UK and with the credit crunch hitting harder, more and more people are suffering deep financial distress. In the days gone by a simple debt consolidation would have allowed many to package their debts into one arrangement, lengthen the time to pay off the debt and also reduce the interest rate p...
Read MoreE-Clear instructed to hand over £35 million Flyglobespan money
PricewaterhouseCoopers, the administrators for fallen Scottish airline Flyglobespan, has today gone public with a demand that £35 million which has been withheld from the company is released immediately by credit firm E-Clear. It looks as though there will be a formal investigation by the UK government with regards to the relationship between Flyglobespan and E-Clear with many concerned that the...
Read More