UK Money News
17th December 2007
Rising tracker prices 'set tone for energy in 2008'
The threat of higher energy prices has been further compounded by an announcement from npower that it intends to increase the tariff for its wholesale price tracker, it has been suggested.
Price comparisons service Simply Switch states that the move follows a similar hike on the equivalent product by British Gas last week.
It asserts that when one supplier instigates a price hike, others follow suit with short delay. It adds that increases of 15 per cent are expected in the early part of next year.
Karen Darby, spokesperson for the firm, remarks: "With petrol prices rising, the cost of mortgages still high and the inevitable financial hang-over from Christmas, householders will really feel the pinch early in the New Year."
However, she added that capped deals are still available and that those seeking help with money might like to consider them as a means of keeping energy costs in check.
In recent finance news, Simply Switch reported on a statement from energywatch which suggested prepayment meters were "exploiting some of the UK's poorest households.
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