The only way is up

Gas and electricity prices are readying themselves for a two stage rise that will see an extra 15% added to our bills this year .

First up is a 5% rise, which will be followed up by a double digit increase later in the year as energy companies do what they always do when faced with wholesale gas price increases - pass them on to the customer!

The news follows the announcement that the ‘big six’ energy companies are pulling their best deals.

Mark Todd, director of Energyhelpline said: 'Suppliers are seeing wholesale prices continue to rise because of world events and many investors are not happy with the profitability levels of some energy companies.

'They want prices to be increased even more on top of the recent average rise of 5.9% over winter.

'A major price movement of about 15% is expected in the August to November period, but suppliers are currently thought to be considering smaller spring price adjustments even before then.'

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