British Gas has reported a rise in profits of 14pc throughout 2012. It is though the company benefited from colder weather which saw consumers use more energy, as well as significant growth in the company’s oil and power generation business.
Energy watchdog Ofgem has issued a warning to consumers that energy prices may well be set to rise again.
Decreased production capacity of energy within the UK is leading to an increased need for more expensive imported energy.
The cost of water and sewerage in the average UK household is set to rise at an inflation-beating rate, by some 3.5pc.
This is according to regulator Ofwat, and will see households spend an average of £388 each from April 2013 to March 2014.
The cost of childcare is on the rise, and has gone up by 6pc in the last three months alone, according to childcare website Findababysitter.com.
The report revealed that of those parents who are currently unemployed, 25pc wished to return to work but couldn’t afford to have their children cared for. As well as this 55pc mentioned that they thought the government was not doing enough to provide them with the help they need financially when it comes to childcare.
The days of strong arm tactics to collect debts may be drawing to a close as creditors seek new ways to get paid out. While the number of orders for assets to be sold, or County Court Judgements fell by over 20% in 2011, the number of applications for debtor’s earnings to be docked at source rose by 15%, to over 60,000.
EDF Energy has become the latest in a long line of providers to hike their energy prices, after moves by British Gas, SSE, Scottish Power and npower to do the same in the past month.
There seems to be little doubt that energy companies have used one another as an excuse to up prices, and have found safety in numbers, leaving consumers with nowhere to turn.
Research from Oxfam has revealed that extreme weather conditions caused by climate change are likely to raise food prices, as crop yields across the world are damaged.
It is claimed by the charity that the implications climate change is having on the future of food prices is being widely underestimated, and has warned that worldwide communities are likely to become more vulnerable to events such as the droughts in West Africa and the USA throughout 2012.
Scottish Power has been accused of ‘pack behaviour’ by Consumer Focus, after the company reacted to announcements last week that British Gas and npower are to raise energy prices; by announcing they will do the same.
It is thought that this will raise the average annual dual fuel bill of Scottish Power customers to £1,271. The energy provider has blamed the move on the increased costs faced in getting energy to consumer’s homes, as well as the costs involved in compliance with energy efficiency programmes.
British Gas has announced that it will raise the prices of gas and electricity by 6pc in a move to cover rising costs, said to be largely outside of the companiesâ?? control.
The company, which is the largest supplier of gas and electricity in the UK, has put the rise in prices down to a range of factors according to managing director, Phil Bentley.
‘Social tariffs’ are to be introduced by the government in order to reduce water bills for those most at risk of defaulting on payments due to low incomes.
Water companies have been given the go ahead to cap the bills under new government guidance, within which the tariffs were included. The announcement was made on the 22nd June at the Rio+20 conference in Brazil by Deputy Prime Minister, Nick Clegg.
