Energy prices 'to rise by up to 25%' this year

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Experts in the energy sector have claimed that gas and electricity prices in the UK could rise by up to a quarter.

According to reports, analysts have stated that it is likely that bills are to increase by between ten and 25 per cent over the next year, which would lead to around £180 added to the current household bill.

The Guardian states that such a move would also mean that homeowners would be hit with an annual energy bill of over £1,200.

Speculation over another possible increase in energy bills has come after the "Big Six" all increased the cost of their gas and electricity earlier this year.

In a recent article published on the Guardian's Comment is Free blog, the chief executive of Centrica, the parent company of British Gas, said that the company had to raise its prices to avoid losing money.

Sam Laidlaw said that the rising cost of wholesale energy was the "real driver" behind the price of energy, while profits for British Gas account for just three per cent of what people pay.

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


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