Time of cheap energy 'is over'

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The time of consumers being offered cheap energy deals "is over", according to the chief executive of one of the UK's leading electricity suppliers.

Dr Paul Golby, the head of E.ON's UK business, told Reuters yesterday that the cost of reducing carbon emissions and fighting climate change, as well as wholesale energy market prices, could mean households are hit by long-term price increases.

He suggested to the news agency that the company has begun looking at pricing, although no plans for an increase by the provider have been announced.

"Clearly we are looking at pricing. Like everyone, we're affected by rising commodity prices. When we come to a conclusion we'll tell people," he said.

If it does raise its energy prices, E.ON would be following the lead of British Gas, EDF Energy and npower in doing so.

However, another rival energy firm, Scottish and Southern Energy, has stated that it is planning on keeping its prices as low as possible for as long as it can.

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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