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NPOWER is to put up their domestic gas bill by 12% and their electricity bill by 7% they are following in the foot steps of British Gas.
British Gas was quoted as saying “the end of cheap energy has now ended”.

Companies blame the rise in household bills on the increase in wholesale gas and electricity prices. They have gone up by 28% and 20% respectively since last November.

The surge in the price of a barrel of crude oil has risen from $25 in November 2002 to almost $49 by 15th August 2004, is one of the reasons for the jump in wholesale prices.

As OPEC ministers prepared to debate on output increase in Vienna, Brent Futures climbed 40 cents to $41.58 a barrel while US Light Crude rose 36 cents to $44.75.

Dwindling North Sea gas reserves also mean we have to import more gas from abroad.

About half of all energy customers have switched suppliers since the gas and electricity markets were opened up in 1998 and 1999.

The latest figures from Ofgem show that 150,000 people switch every week. There are about 20 energy suppliers to choose from, although six – British Gas, NPOWER, Powergen, EDF, Scottish Power and Scottish & Southern Energy – control 99% of UK Market.

A family of four living in London could reduce their £914.85 bill by £187.52 a year by changing from London Electricity and British Gas to Powergen’s Energy Online Dual Fuel Tariff.

 

End of Cheap Energy