Nuclear plans could push up cost of energy bills

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 cost of creating a new fleet of nuclear power stations in the UK could push up energy bills for consumers, it has been claimed.

According to a report in the Times, both business and residential customers could be affected by the hike in electricity prices.

Pierre Gadonneix of the French energy firm EDF has called for a 20 per cent increase in the cost of consumer electricity to pay for the cost of building nuclear reactors in the coming years.

Nick Campbell, an energy analyst at Inenco, told the news provider that putting a stop to price hikes could have a negative impact on the energy industry.

He said: "This could be extremely detrimental for the future security of UK energy and lead to an increase in wholesale prices.

"The effect could ripple across the English Channel and lead to a delay or mothballing of EDF's four proposed UK nuclear reactors."

So with the pressure of price rises coming from all sides, it looks like hunting for the cheapest tariffs on price comparison sites and switching energy provider could be the best way to keep the cost of bills down.

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