With the inflation busting price hikes of winter 2007 still prominent in the memory of most bill payers, gas and electricity rates are set to climb for a second time this year due to escalating wholesale costs.
Average energy bills increased by £128 during the last round of price hikes, taking quarterly bills beyond the thousand pound mark. The next round of rate rises, anticipated in the autumn, will push average annual bills above £1100.
Today sees the last of the big six energy suppliers, Scottish and Southern Energy (S&SE), raise their rates in line with the other five suppliers. S&SE customers can expect a 15% increase in gas and electricity bills from this day on.
Prepayment meter customers, often handed the roughest deals by energy suppliers, received some respite following the Chancellor, Alistair Darling’s announcement that the government would press suppliers to reduce the bills of prepayment meter customers.
Chris Eagle, Commercial Manager at Credit Choices, urges energy customers to start saving during the summer if they can:
‘While you’re not using as much energy during the warmer months, try to put some money aside for next autumn and winter if you can. Fuel bills look set to sky rocket around this time. Also, and you might be bored of hearing me say this, but I’ll say it again, consider direct debit payments and an online tariff if you don’t have either already.’
