Menu
17/10/2011
Gov To Hold Energy Summit
David Cameron is adding to the pressure on energy firms, ahead of a meeting with the 'big six' suppliers on Monday to discuss bringing down the cost of power.
The Prime Minister will be meeting the firms, consumer groups along with the regulator, Ofgem.
The summit's aim is to help consumers save energy by making sure they're on the cheapest deal, switching supplier or getting subsidised insulation, according to Mr Cameron on Monday.
In an article on the www.moneysavingexpert.com, he wrote: "Energy bills have increased by more than £100 for most people since this summer."
"These price rises couldn't come at a worse time for consumers who are already feeling the pinch from rising petrol prices and the cost of the weekly shop."
Last week, the energy regulator published demands to suppliers asking them to offer standard tariffs, just as companies recorded an increase in margins.
Energy firms' profits increased from £15 to £125 per customer per year in the last four months, sparking anger among campaigners.
Regulator Ofgem said in its 'Promoting Choice and Value' document, published on Friday, that tariff complexity, poor supplier behaviour and lack of transparency needed "radical change".
The document outlined plans to ensure that customers could compare prices easily and that those seeking more innovative tariffs would be free to choose them.
Responding to the announcement of the summit, Labour Leader Ed Milliband said Electricity and gas bills were going to force a "huge winter squeeze" on the finances of families and the elderly.
"Energy prices have risen remorselessly, with the typical dual fuel bill going up almost 50 per cent in four years.
"The rises come as the National Grid prepares for weather as bitter as 2010 which saw the coldest December on record. And, winter fuel payments have been cut by £50 for the over 60s and £100 for the over 80s.
"For those facing this triple hit, there will be scant comfort in the sight of David Cameron holding an Energy Summit in Downing Street tomorrow."
Consumer groups say that the Government should take this opportunity to reform the market and for energy firms to recognised customers' anger about rapidly rising prices and bad customer care.
(DW/BMcC)
The Prime Minister will be meeting the firms, consumer groups along with the regulator, Ofgem.
The summit's aim is to help consumers save energy by making sure they're on the cheapest deal, switching supplier or getting subsidised insulation, according to Mr Cameron on Monday.
In an article on the www.moneysavingexpert.com, he wrote: "Energy bills have increased by more than £100 for most people since this summer."
"These price rises couldn't come at a worse time for consumers who are already feeling the pinch from rising petrol prices and the cost of the weekly shop."
Last week, the energy regulator published demands to suppliers asking them to offer standard tariffs, just as companies recorded an increase in margins.
Energy firms' profits increased from £15 to £125 per customer per year in the last four months, sparking anger among campaigners.
Regulator Ofgem said in its 'Promoting Choice and Value' document, published on Friday, that tariff complexity, poor supplier behaviour and lack of transparency needed "radical change".
The document outlined plans to ensure that customers could compare prices easily and that those seeking more innovative tariffs would be free to choose them.
Responding to the announcement of the summit, Labour Leader Ed Milliband said Electricity and gas bills were going to force a "huge winter squeeze" on the finances of families and the elderly.
"Energy prices have risen remorselessly, with the typical dual fuel bill going up almost 50 per cent in four years.
"The rises come as the National Grid prepares for weather as bitter as 2010 which saw the coldest December on record. And, winter fuel payments have been cut by £50 for the over 60s and £100 for the over 80s.
"For those facing this triple hit, there will be scant comfort in the sight of David Cameron holding an Energy Summit in Downing Street tomorrow."
Consumer groups say that the Government should take this opportunity to reform the market and for energy firms to recognised customers' anger about rapidly rising prices and bad customer care.
(DW/BMcC)
Related UK National News Stories
Click here for the latest headlines.
27 September 2005
Energy watchdog warns on price rises
Rising energy prices are posing a “serious threat” to British businesses, the energy watchdog has announced. Energywatch is to hold a meeting with business leaders and Energy Minister Malcolm Wicks during the Labour party conference in Brighton on Tuesday in order to discuss the effect that rising energy bills are having on the UK economy.
Energy watchdog warns on price rises
Rising energy prices are posing a “serious threat” to British businesses, the energy watchdog has announced. Energywatch is to hold a meeting with business leaders and Energy Minister Malcolm Wicks during the Labour party conference in Brighton on Tuesday in order to discuss the effect that rising energy bills are having on the UK economy.
22 February 2011
Energy Forum Marks Milestone In Efforts
Speaking at the International Energy Forum (IEF) ministerial meeting in Saudi Arabia today, UK Energy Minister Charles Hendry highlighted the importance of international efforts to stabilise the cost of energy sources.
Energy Forum Marks Milestone In Efforts
Speaking at the International Energy Forum (IEF) ministerial meeting in Saudi Arabia today, UK Energy Minister Charles Hendry highlighted the importance of international efforts to stabilise the cost of energy sources.
24 September 2008
EDF To Takeover British Energy
The Government welcomed EDF's proposed £12.5 billion takeover offer for British Energy Group and the British Energy Board's recommendation of the offer to its shareholders. The Government has committed to accept the cash offer of 774p per share for its 36% stake held by the Nuclear Liabilities Fund (NLF), subject to certain conditions.
EDF To Takeover British Energy
The Government welcomed EDF's proposed £12.5 billion takeover offer for British Energy Group and the British Energy Board's recommendation of the offer to its shareholders. The Government has committed to accept the cash offer of 774p per share for its 36% stake held by the Nuclear Liabilities Fund (NLF), subject to certain conditions.
08 January 2014
Npower To Reduce Energy Bills
Npower has said it is to reduce its energy bills for customers. The energy supplier has said there will be an average price reduction of 2.6%. It only partially offsets an average 10.4% increase in rates announced last year. In a statement, Npower said the price cut will affect all those whose rates were increased in December 2013. As a result, 2.
Npower To Reduce Energy Bills
Npower has said it is to reduce its energy bills for customers. The energy supplier has said there will be an average price reduction of 2.6%. It only partially offsets an average 10.4% increase in rates announced last year. In a statement, Npower said the price cut will affect all those whose rates were increased in December 2013. As a result, 2.
31 March 2006
Scottish & Southern Energy announce price rises
Energy supply company Scottish & Southern Energy has announced that it will increase prices for the majority of its domestic electricity and gas customers - the fourth time prices have risen since the start of 2004. From May 1, standard prices for electricity customers will increase by 9.
Scottish & Southern Energy announce price rises
Energy supply company Scottish & Southern Energy has announced that it will increase prices for the majority of its domestic electricity and gas customers - the fourth time prices have risen since the start of 2004. From May 1, standard prices for electricity customers will increase by 9.
-
Northern Ireland WeatherToday:Gale, coastal severe gale, northwest winds ease from late afternoon. Scattered showers will fall as snow over the hills at first, becoming isolated from mid-afternoon. Maximum temperature 7 °C.Tonight:Showers, scattered in the evening, will clear by midnight leaving the night dry with clear spells. Cloud will spread east towards morning. Minimum temperature 2 °C.
