Energyhelpline has told consumers to brace themselves for massive energy price hikes which could be as high as 10pc.
Britain�???�??�?�¢??s �???�??�?�¢??big six�???�??�?�¢?? providers are all said to be readying for the price increases, which are expected to be announced on August 22. Energyhelpline, who help consumers find the best deal on gas and electricity, said �???�??�?�¢??the volcano is about to erupt�???�??�?�¢??, in a move which could add as much as �????�???�??�?�£140 onto the average dual gas and electricity bill across the UK.
Research from the Money Advice Service has revealed that, despite the fact an increasing amount of UK adults are struggling to pay bills, people are generally falling into better money habits.
The Money Advice Service, a website run by the Government to make people more aware of how to effectively manage their money, says that because of the fact people are struggling more with their finances, they are being self-motivated to seek information on techniques to budget and save money
Centrica, the company which own British Gas, made £1.56bn in the first six months of the year throughout its entire power generation and supply business, a 9pc year-on-year compared to 2012. British Gas was responsible for £3.56m of this profit, a rise of 3pc year-on-year
The energy industry is once again under scrutiny from MPs, after insights into the amount of profit the ‘big six’ energy providers are making.
All of the big six providers, which include E.ON, Npower, British Gas, EDF, Scottish Power and SSE, hiked their prices at the end of 2012, blaming tougher, more competitive market conditions.
Millions of customers of two of Britainâ??s largest energy suppliers, E.On and EDF Energy, have been overcharged on part of their gas bills, according to regulators. It is thought that customers of British Gas may also have been overcharged, for a period of up to five years
A survey from Save the Student has found that as many as 8 out of 10 students don’t have enough money to live on. Out of the 2300 students who partook in the survey, one in five also admitted they have turned to gambling in order to try to get hold of extra cash, while one in four said they would consider selling their body for medical trials in return for money
The cold weather in the first four months of 2013 has meant that gas use in the UK was 18pc higher than that of the same period in 2012, according to British Gas. Electricity use was also reported to be higher, with a rise of 3pc.
The number of households in the UK that are in debt to their energy supplier has risen by over one million during the past twelve months, meaning that around one in five households are now in debt to energy firms.
This data was revealed by a study from comparison site uSwitch, within which it was also revealed that consumers owe an estimated £637m to energy firms, which equates to a 6pc rise on last year.
The cost of living has risen at four times the rate of incomes since the start of the economic downturn according to the Office for National Statistics (ONS). This means that those who either rent or own a home, and pay bills for amenities, are significantly worse-off than they were before the recession started in 2008.
Orange and T-Mobile will raise the prices of pay-monthly tariffs from April 2013, in a move which will affect an estimated 5.5 million existing customers.
The average increase is expected to be 79p, or as a spokesperson for Everything Everywhere (EE), the company who owns Orange T-Mobile, put it, “about the cost of a can of baked beans”.
