Britain face 'biggest rises in energy prices'
Published on : 04/02/2009
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Britain has witnessed the biggest rise in energy prices in Western Europe in the past year, it has been claimed.
According to the Daily Mail, the majority of German, French and Spanish-owned electricity and gas providers have reduced their prices while energy firms in the UK have kept theirs high.
Figures from the Organisation for Economic Co-operation and Development's Consumer Price Index show that UK energy inflation over the past year was 12.1 per cent – despite a reduction of 40 per cent in the cost of wholesale gas and electricity.
Meanwhile in Germany, France and Spain energy prices fell by 0.8, 6.5 and 7.2 per cent respectively.
However, the Energy Retail Association said: "The UK has the most competitive market for gas and electricity in the world."
Research released by supermarket chain Asda last week showed UK families are £4 worse off a week as a result of the increasing cost of household bills.
