Cheaper electricity and gas could be here to stay

Between 1 July 2019 and 31 December 2019, at least 10% of people who switched energy supplier for both gas & electricity with Uswitch saved £479 or more.

The recent fall in energy prices could be more permanent than some analysts have predicted, it has been claimed.

Writing for the Daily Telegraph, George Trefgarne claimed that the recent reduction in the cost of energy is one of the best pieces of news for consumers battered by the credit crunch.

And he claimed that even if prices start to rise again they are unlikely to hit the high levels they reached in 2008.

He said: "This is excellent news, of great import. The trend for gas and electricity bills is downwards; diesel is back at the same price as regular gasoline; the world is practically choking on gas, and is potentially awash with oil."

Mr Trefgarne noted that energy suppliers are set to be hauled in front of Ofgem to explain why they have not lowered their prices in the wake of wholesale reductions, and he claims that they have said they are about to drop the cost of their electricity and gas.

So now could be a good time to consider switching energy supplier – or at least comparing prices online.

Robert Hammond, energy expert for Consumer Focus, recently claimed that energy prices have the potential to fall by a further ten per cent.

Click here to run an energy price comparison, and see if you could be paying less for your gas and electricity.