Are Providers Making Cheap Electricity Prices A Thing Of The Past?

[widget:ad_unit-1248729112]Gas and electricity prices have risen considerably over the past 5 years and this has lead to certain members of Parliament believe that companies are changing the way they provide energy to significantly increase prices. The market has seen a rise of 60% during the last 5 years and customers are demanding answers.

Recent price increases are making finding cheap electricity prices a thing of the past which has led to providers collecting an extra £8 billion a year. In a time when it is expected that companies pass on savings to their customers, energy providers have come under heavy scrutiny.

The energy companies’ reason for the increase is the rise in wholesale price which is being forced up by shortages. However, MP’s are suggesting that this alone is not sufficient enough for the increase that the market has seen. It is estimated that over 4.5 million people are in “fuel poverty”; these families have to use around 10% of their disposable income to keep the lights on and stay warm.