Credit and debt news
Energy costs on the up
8 August, 2007
Despite price cuts in the first six months, energy costs look certain to rise again this year. The oil price rose by 20 per cent in June and July and has been flirting with record highs at the height of the summer.
Some analysts are talking about $100 a barrel by the end of the year as demand rises in the winter months. That doesn’t just mean more expensive petrol on the forecourts – it means more expensive utility bills as well, both electricity and gas.
Switch your energy supplier here
British Gas has already warned it won’t be making any further price cuts, after two reductions since March. In the energy markets, wholesale gas prices for this winter are already close to all-time highs.
Switching utility suppliers is an easy way to save money on your gas and electricity bills. All you are doing is changing the administration side of things.
Robin Amlot of MoneyExtra.com, said: “There’s been a lot of hot air in the press about British Gas and its profits. But the simple fact is that our fuel bills are likely to be going up over the next six months.
Switch your energy supplier here
“With higher mortgage costs as well, thanks to rising interest rates, it’s more important than ever that households keep an eye on their spending, making sure they’re getting the best value for money in gas and electricity.”
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