MPs have called for further reform of the energy market as household fuel prices continue to rise.
A report by the Business and Enterprise Select Committee states that domestic gas and electricity prices are likely to rise in the near future to even higher levels than the headline increases (40% +) announced recently in the press.
The Committee found no evidence of collusion between the main electricity and gas suppliers (British Gas, E.on, Scottish Power, Scottish and Southern, EDF and nPower), but it does say that there are “very real problems” with the domestic energy market.
Government will rapidly need to come up with changes to fuel poverty policy to help the poorest and most vulnerable in society keep warm this winter.
In all cases it makes sense for householders to consider reducing energy consumption to help offset some of the future price increases. Our information page “Cheaper Utility Bills” has a good section on how to reduce domestic energy use and identifies potential savings and where possible energy saving products that may help.
For a start, to beat rising electricity bills, I would strongly recommend all householders to make use of a Wireless Energy Monitor. These electricity monitors bring your electricity use to you attention and help you to make simple changes to reduce your bills. It also helps to motivate the entire household to get involved and will reduce your carbon footprint as well.
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