Wholesale energy costs now ‘burn’ switching service of comparison website

Compare The Market decided to “temporarily stop” offering energy quotes through its website amid “this period of uncertainty”

The energy switching service of a leading comparison website has been frozen today.

Soaring energy prices seem to continue painting a grim picture for the British energy market’s future as they led Compare The Market to pause one of its most popular services.

Earlier this week, analysts predicted prices will further increase because of a fire at National Grid’s IFA interconnector. 

An estimated 60% increase in wholesale gas and electricity prices will mean that families will face a £280 increase in their energy bills.

A Compare The Market spokesperson said: “Due to unprecedented rises in wholesale energy costs, a number of energy companies have temporarily made their tariffs unavailable to people wishing to switch.

“At comparethemarket.com, our priority is to ensure that our customer can be confident that the product they purchase is going to meet their requirements. In order to protect our customers we have therefore decided to temporarily stop offering energy quotes via our website during this period of uncertainty.

“We will resume energy comparison as soon as we can be confident we can offer true comparison for customers.”

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