Online price comparison service uSwitch have warned that, following ScottishPower’s price hike earlier today, the rest of the BigSix are likely to follow suit.
Ann Robinson, Director of Consumer Policy at uSwitch.com, says: “We are in real danger of seeing a repeat of 2008 when energy bills rocketed by £334 or 41% as a result of consecutive rounds of price hikes.”
ScottishPower announced that it is putting its gas and electricity prices up for the second time in 9 months, which uSwitch say is a clear warning that household energy bills are on the rise again.
“Suppliers may think this is justified because of the increase in wholesale costs, but Ofgem will need to consider whether these increases are justified or not and act swiftly to protect consumers. Given that Ofgem has found some evidence that suppliers increase their prices more quickly than they drop them, any consumer complaints about price hikes are unlikely to fall on deaf ears.”
uSwitch recommend consumers look into other ways of reducing their bills.
Ms Robinson said: “There is no room for complacency and I would urge consumers to act now. There are two key steps to keeping a lid on your energy bills – use less energy by making your home more energy efficient and move to a competitive energy plan so that you pay less for the energy you do use. saving and could make a real difference for those who are worried or struggling with bills.”