Asda Money t/a Asda Financial Services Limited



December 17, 2012 01:00 ET

Energy Price Increases-Where Do Consumers Stand?

Asda Money investigates the current landscape of energy prices and looks at how you can save money by switching providers.

LEEDS, UNITED KINGDOM--(Marketwire - Dec. 17, 2012) - Last year the UK's leading six energy suppliers pushed up their prices by an average of 20%, adding an extra £200 to the annual dual fuel bill. In February this year, the six reduced either their gas or electricity prices by up to 6%.

However, 5 of the six suppliers have now announced prices rises for the coming year, with E.ON being the only exception so far.*

The 'big six' suppliers; E.ON, British Gas, Scottish Power, Southern and Scottish Energy, Npower, EDF Energy, provide 99% of the UK's energy and strive to offer competitive prices and tariffs between them. Energy comparison with Asda Money could help you to find a better energy tariff for your circumstances and save money.

Price hikes

The cost of delivering energy is rising for suppliers, causing them to push up the price of domestic energy.

The Bank of England predicted that gas and electricity bills could rise by an average of 2.5% either at the end of this year or the beginning of 2013.** The recent rises have now proved them right.

This could be one of the worst times for UK households to face a bill increase as many turn up the heating during the colder months.

Pensioners and single parent families are particularly vulnerable to energy price hikes as it could put them at risk of fuel poverty.

Promises

E.ON promised earlier this year that they would not increase prices in 2012 and SSE said they would not raise prices before October.*** E.ON have stayed true to this promise, but SSE have since announced an intended rise of 10.8% from December for both gas and electricity prices.

Asda Money recently launched an Energy Compare & Save comparison tool to help households save money on their energy bills. Plus, for those who need more information on how to compare energy tariffs, Asda Money have created a number of helpful guides offering tips and advice for consumers on how they can save money on their energy bills.

Notes for editors

* Source: House of Commons Library Energy Prices www.parliament.uk/briefing-papers/SN04153.pdf

** Source: Bank of England, The Inflation Report: 4 Costs and prices
http://www.bankofengland.co.uk/publications/Documents/inflationreport/ir12aug4.pdf

*** Source: Financial Times Energy price increases on the horizon http://www.ft.com/cms/s/0/2b22996c-9db8-11e1-838c-00144feabdc0.html#axzz23c8d6tDv

About Asda Energy Compare & Save

  • Customers can save up to £346* per year
  • All UK suppliers are compared
  • 94% of customers can save**
  • Switching could take as little as 7 minutes***

* At least 10% of customers who used energyhelpline (providers of Asda Energy Compare & Save service) to switch their gas and electricity between 01/01/2011 - 01/03/2012 saved £346 a year or more.

** Based on over 100,000 people comparing their energy with energyhelpline between 29/03/2012 - 11/05/2012.

*** At least 10% of customers who used energyhelpline (providers of Asda Energy Compare & Save service) to switch their gas and electricity between 01/08/2011 - 23/02/2012 took 7 minutes or less to complete the switch application.

Asda Energy Compare & Save is provided by energyhelpline. energyhelpline is a free and impartial independent price comparison service. Fully accredited by Consumer Focus, energyhelpline.com compare all suppliers in the UK to help you find the cheapest energy deal.

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