Gas and electricity prices 'to rise at some point'

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 price of gas and electricity is set to rise "at some point", according to the chief executive of British Gas's parent company Centrica.

Sam Laidlaw has stated that it is "clear" that the cost of energy is going to rise as falling gas production means the UK has been forced to buy "increasingly large volumes" from abroad.

Talking to a committee of MPs yesterday, he added that record oil prices, as well as demand from other countries across the world, are also affecting the cost of resources.

"While other costs remain broadly static or have fallen, the rising commodity costs form an ever greater proportion of customers' bills," he explained.

Mr Laidlaw's comments come after energywatch recently urged the government to take "three steps" in order to tackle the rising cost of gas and electricity.

The organisation urged MPs to begin an initiative to remove the link between the price of gas and barrels of oil, while it also called for the Competition Commission to investigate the energy market.

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