May 14, 2012NEWS

Huge hikes in energy bills expected

Energy bills set to soar yet again this coming winter.

A worrying report from British Gas owner Centrica, the UK’s biggest energy supplier,  warned its costs are increasing, which naturally gives rise to worries for households about further price hikes not too far in the future.

Although some energy suppliers, including Centrica, did cut domestic electricity bills in 2012, the costs of energy to the consumer are still rising as ever. Higher supply costs including wholesale gas prices, transport and distribution, are expected to add £50 to the cost of supplying the average household’s energy in 2012.

Increased costs for suppliers will inevitably be passed on to customers in the form of higher bills, and wholesale gas prices are anticipated to be around 15% higher for the coming winter.

Installing a solar energy system, which insulates your household or building against increasing fuel bills, is looking ever more valuable in the current energy climate. And with the sharp rise in gas prices and the new Renewable Heat Incentive, solar thermal is looking particularly attractive.

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