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Energy firms inject competition into the market

The last few weeks have seen the likes of British Gas and Scottish & Southern reduce their energy rates for the UK consumer. While many have still criticised the size of these reductions, compared to the massive increase we saw last year, they have been well received in the main by struggling households. However, thankfully it appears that competition is set to return to the sector with more and more energy companies looking to grab the attention of customers looking to switch.

In the hustle and bustle of these headline grabbing reductions it is easy to forget that energy rates across the board are still significantly higher than this time last year. There is still concern amongst consumer groups that a number of energy companies in the UK are still maintaining their significant profit margins at the expense of the UK consumer. Whether the UK government has had a hand in the moves by British Gas and Scottish & Southern remains to be seen but there is still much to do to get the UK public back onside.

Thankfully the Russian gas disagreement seems to have died down and there are hopes that supply will be back to normal in the short term.

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