We are signing up to decades of over-priced electricity. Why? October 21, 2013 OUR energy policy is going from bad to worse. Not only are our bills already rocketing, largely as a result of a flurry of costly UK and EU green initiatives, but we are about to lock in high prices for decades to come by signing up to a fresh supply of horrendously over-priced nuclear electricity. [...]
SSE defends energy price rise as Archbishop hits out at Big Six October 20, 2013 ENERGY firm SSE last night defended its decision to raise prices, blaming wholesale prices and government policy for the hike. Its remarks come after the Archbishop of Canterbury squared up to Britain’s energy companies over their plans to up fuel bills this winter. Justin Welby, a former oil trader, said the so-called big six firms [...]
British Gas blames regulation for 9pc hike in energy bills October 17, 2013 THE UK’S energy debate was ignited again yesterday, after British Gas said it would be raising customers’ bills by 9.2 per cent from 23 November – adding £104 on to the average annual dual fuel bill – and blamed the government’s green initiatives for almost half of the increase. Centrica, which owns the big six [...]
The real reason why energy prices are spiralling out of control October 17, 2013 LIKE most readers, I have had my run-ins with energy companies. One especially pushy door to door salesperson once tried to forcefully convince me that I needed to sign up to his firm because I had just moved into a new home. Fortunately, I wasn’t naïve enough to succumb to his lies but many others [...]
Subsidy fears as UK inks nuclear deal with China October 17, 2013 THE COALITION’S nuclear plans gained further momentum yesterday, after chancellor George Osborne said Chinese companies are allowed to buy a stake in British nuclear power plants. But it is thought that any deals will include indirect price subsidies that could trickle down to taxpayers over the 35-year life of the plant. Osborne made the announcement [...]
“Ask British Gas” descends into chaos October 17, 2013 After announcing a price hike this morning, British Gas have opted to host a Twitter Q&A session about the 9.2 per cent bill rise. It's shaping up to be one of the social media mistakes of the year. We're here with Customer Services Director, Bert Pijls, who will be answering your questions until 2pm. Tweet [...]
British Gas announce 9.2 per cent price rise October 17, 2013 Centrica owned British Gas has announced a 9.2 per cent price rise fro this November. That follows a recent increase by competitor SSE, of 8.2 per cent (release). British Gas electricity prices will rise by 10.4 per cent, and gas prices by 8.4 per cent from 23 November. Today’s announcement, which will add about £2 [...]
Ofwat to reject Thames Water’s price rise plans October 16, 2013 INDUSTRY regulator Ofwat yesterday said it plans to block Thames Water’s request to raise customer bills by eight per cent next year, on the grounds that it is unjustified. The watchdog has published a draft decision to reject the proposal – which would add an extra £29 on to the annual average household bill – [...]
New scary book by Terrifying Tim October 16, 2013 THE GLOBAL financial system is mired in unsustainable debt but it is the ever rising cost of energy in particular that we should be worrying about, according to Tim “Terrifying” Morgan. The former chief economist at Tullett Prebon, whose theories have also earned him the nickname “Dr Doom”, has published a book called Life After [...]
Germany’s renewable energy race pushes prices up and dampens growth October 15, 2013 Germany's surcharge for green energy will go up by almost a fifth next year – to 6.24 euro cents (5.3p) per kilowatt hour (kWh) – say network operators, as first reported by Reuters. The monthly surcharge, levied on consumers via their electricity bills to finance renewable power subsidies, rose by almost two cents (or 47 [...]