Recent research has warned that energy bills are to rise by up to 10% within the next two months.
This forecast has been predicted due to claims made by the Labour Government that the “Big Six” energy companies have increased their profits by £3.3 billion over the course of the three years that the coalition government has been in power.
Studies have noted certain signs that lead to the conclusion of a rise in energy prices. It is said that since the beginning of the year there have been many remarks made that were similar to last year in which there was a 5%-10% rise in prices in summer/autumn. It was reported that earlier this year we had the longest winter in history, so when temperatures where at freezing in March, gas usage was up 15-20% and prices were higher. When energy companies bought energy to sell on to consumers last year the price was high and therefore the price would be carried forward to this year.
Caroline Flint, the shadow energy and climate change secretary reported that David Cameron did not act on the “rip-off energy bills” that left the public shocked. She also remarked that the Labour government would force energy companies to pass on price cuts to the consumers.