UK Money News
21st February 2008
Price rises 'should encourage consumers to switch provider'
Across-the-board price increases from UK energy providers should provide consumers with fresh impetus to seek out the cheapest deals, according to a price comparison site.
Over the last month, UK energy companies, including British Gas, EON and npower, have confirmed double digit increases on gas and electricity.
The squeeze these are set to exert on household budgets should encourage homeowners to consider the potential benefits of switching provider, according to Paul Schofield, head of utilities at moneysupermarket.com.
He said: "Five out of the six energy giants have announced a combination of price increases and new products over the past six weeks so now is an excellent time for users to review the market and make sure that they have the best provider and product for their area and consumption."
Mr Schofield advised consumers seeking out the cheapest offers should opt for those with online monthly direct debit accounts since these are "the cheapest products available".
Energy companies, which have raised tariffs by an average of 15 per cent, have sought to justify the move by pointing out that wholesale energy prices have increased.
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