British Gas have reported a small drop in profits from their residential business in 2013, citing factors such as warmer weather and increasing wholesale costs.
UK financial figures have shown that the January surplus for 2014 has decreased by around £1.3bn in comparison to the same period in 2013, as income from taxes and company profits fell.
Profits posted by British Gas have been questioned by the energy minister, Ed Davey, who has further suggested the company may have to be broken up if proof of a monopoly is found.
Profits posted by British Gas have been questioned by the energy minister, Ed Davey, who has further suggested the company may have to be broken up if proof of a monopoly is found.
A record number of electricity customers changed their supplier in November, according figures measured by ElectraLink.
ElectraLink, which measures data for the industry has released figures showing that more than 615,000 people switched electricity suppliers in November. The highest number since records began.
The cost of having your child cared for while you work rose by 19% year-on-year to December 2013, according to parenting website, findababysitter.com. The figure, which is derived from data collected from a pool of 231,000 nannies, childminders and other professionals, highlights the extent to which parents are being put under increasing financial pressure
Npower has become the last of the major energy suppliers to announce price cuts following the governments changes to green levies on bills.
Npower had previously announced a price rise of 10.6% in December 2013, the largest out of any of the major energy suppliers, but will now cut bills by an average of 2.6% as of 28 February, affecting all customers whose prices went up in December.
One in 11 people are living in fear that they will not be able to meet their household bills such as rent and mortgage payments in January following the costly Christmas period, according to charity Shelter.
The average cost of renting a home in the UK is rising twice as fast as wages, as demand for properties outstrips supply in ever more competitive market. The average cost of renting a property in the UK has now risen to £753 a month, up 1.6pc year-on-year from November 2012, while over the same period wages have risen by just 0.8pc and stand at an average of £1,942 before tax.
The rises in the cost of household energy mean that families are now spending more on gas, electricity and home expenses than anything else, for the first time in history.
This means that the cost of living at home has now overtaken that of travelling; with families now spending an average of £68 per week on essential household bills.
