natural gas and electricity prices

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There is a great amount of worry at the moment with regards to Gas and electricity suppliers due to prices of energy going up by a large percentage in January. British Gas announced late last year that their energy prices were going to increase by a shocking 15%, it turns out that not only heat rises but so do heating prices across the board; other energy companies such as EDF Energy and nPower have also stated they are to increase rates.

Credit Union bosses have voiced their concerns too on the matter stating that the rises were bordering on opportunistic considering the timing just after one of the most expensive Christmas’ on record and the number of people in debt at an all time high. The trouble with this change is that heating and electricity are commodities that are essential to everyone and there’s no practical alternative currently available.

Obviously this means troubling times are ahead for the UK population but how has is this rise justifiable? Well British Gas cites the cost of wholesale Oil and Gas rising as the reason for their prices being altered. With the global supplies of the two resources scarce both in this country and on the continent it has resulted in companies compensating for the price of the raw materials by charging more on the consumer’s end.

This has been felt not only by the gas suppliers but also at the petrol pumps where petrol and diesel has tipped the scales at over 100 pence per litre. Although the suppliers are getting the most grief they are the first to recognize the problem and assure consumers that the changes wouldn’t affect the “hardest-up”. Phil Bentley, Managing Director of British Gas said, “We can’t absorb the burden of these higher energy prices and the costs of delivering a cleaner environment.”

Other reasons give for price hikes have been linked to arranging a greener energy source and government pressure to reduce our carbon footprint among other schemes. The increase actually only affects 340,000 customers on their Essentials tariff, those who are subscribed to fixed-term tariffs will not see any change until time for renewal.

For now though it seems that gas and electricity suppliers hands are tied with rising costs for natural resources, if you are concerned about changes that are due for March 2008 then contact your supplier or check with other gas suppliers there are who may offer more attractive new customer deals.

About the Author:

Andy Adams is an experienced UK writer working with gas and electricity and home utilities

Article Source: ArticlesBase.com – New Year Brings About Gas and Electricity Price Hikes

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