Energy prices rise by 37%May 9th, 2017
The main Energy companies are believed to have raised prices before a price cap is created by the current government. They have been accused of taking advantage of their customers after they quietly raised the price of their cheapest gas and electricity deals by as much as 37 per cent since Prime Minister, Mrs May, first threatened to intervene last year.
Centrica, the owner of British Gas, have warned that the policy would ultimately drive further increases in prices by reducing competition. Iain Conn, Centrica’s chief executive, said the proposed policy was anti-competitive and highlighted that a similar policy in Spain led to a £20 billion deficit in spending on infrastructure. Mr Conn told journalists that a price cap would ‘damage customers; evidence from other countries suggested it would “lead to reduced competition and choice, and potentially higher average prices’.
The Conservatives released a manifesto announcement, under embargo, that confirmed for the first time their pledge of an ’absolute’ price cap!
The policy would benefit anyone who pays for their energy on a standard variable tariff, which accounts for 70 per cent of the market.
Greg Clark, the Business, Energy and Industrial Strategy Secretary, said ‘We will act on our commitment to intervene when the energy market fails to treat people in a fair and reasonable manner. In the last few months, five of the largest energy suppliers have announced increases to their already poor value standard tariffs. This clearly isn’t fair and reasonable and we are going to put it right.’
Here at ADSI we ensure no matter what is happening you are on the best product at the best price. We provide bill validation to ensure our customers are never charged more than they should and keep track of all anniversaries on the account to ensure that your business is not part of the 70% that are paying the unattractive standard variable charges.
Call 01268 495555 or email firstname.lastname@example.org today to ensure that no matter what happens, you are looked after for all your energy needs.