The coldest winter in 20 years has led to heavy criticism regarding the prices offered to customers by gas and electricity suppliers. Whilst the winter months are now drawing to a close, consumers still stand to benefit financially by switching gas and electricity supplier.
Switching Gas and Electricity Supplier to Secure Better Prices
According to uSwitch.com, the average dual fuel bill in January 2008 was just £912. It currently stands at £1,293, representing an increase of 42% in just 12 months. This added £381 to the average gas and electricity bill. However, wholesale prices of gas and electricity have since fallen by 40%. Sadly, the herd mentality of gas and electricity suppliers means that prices have hardly been reduced at all.
More recently, foreign gas and electricity suppliers have come under pressure from MPs to reduce their gas and electricity prices. British Gas cut its prices by 10% in early February 2009 and it is likely that other gas and electricity suppliers will have little choice but to follow suit shortly.
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