UK Money News
21st April 2008
Energy companies slammed over price increases
Consumer groups have rounded on energy companies after it emerged that they are preparing to increase their tariffs later this year.
Earlier this year, the so-called big six energy companies imposed double-digit increases on the cost of their gas and electricity tariffs.
However, according to reports, it is now thought that the companies are set to impose a 25 per cent increase on energy bills by the end of the summer, as the energy shortage which sparked the initial price rises worsens.
Allan Asher, chief executive of consumer body energywatch, told the Observer that the move would have a "catastrophic" impact on consumers who are already struggling financially after the previous round of increases.
A rise of 25 per cent would increase the average household's annual fuel bill by £250 per year, bringing the total bill up to £1,250 annually.
Families are already thought to be struggling with higher mortgage repayments and spiralling food costs.
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