Rising energy prices

Whilst the abundance of shale gas in the US has caused energy prices to plummet, in the UK British Gas has announced an expected price increase in the next two months – it raised residential gas prices by 6% last November.  If it does, the other “Big 5” will follow suit blaming the cost of implementing the Government “Energy Company Obligation” scheme to help the lower paid insulate their homes.   In addition, prospective increases in “Green” surcharges such as Renewables Obligation and Feed In Tariffs mean that energy is going to become increasingly expensive.   Whereas previously “best advice” was to opt for short-term contracts to enable switching if one supplier became uncompetitive, it now worth considering locking in to a longer contract to give certainty over future costs.

Rising energy prices