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Gas & electricity prices heating up

HIGH VOLTAGE PRICES Since June 2011, all of the big six energy suppliers have announced a significant increase in their prices. GAS & ELECTRICITY PRICES HEATING UP BRITISH GAS E.ON Nearly everyone in the UK has 4 Electricity: 16% Gas: 18% 4 Electricity: I1.4% Gas: 18.1% recently been - or will soon be - affected by increases in the cost of gas and electricity. But just how bad are the increases? We did some research to find out how much prices are going up by and which companies are to blame. EDF NPOWER 4 Electricity: 4.5% Gas: 15.4% 4 Electricity: 7.2% Gas: 15.7% POWERING THE PAST Electricity and gas prices are higher than ever in the UK. Annual Domestic Energy Prices in £ 174.50 SCOTTISH POWER SCOTTISH AND SOUTHERN ENERGY O Electricity: 10% Gas: 19% 4 Electricity: 11% Gas: 18% TIGHTEN YOUR VOLTS Here are two practical ways to lower your monthly energy bill: Pay by Direct Debit Energy providers will lower your payments if you pay by direct debit. Only 52 per cent of Brits are signed up to pay this way. Shop Around Until the 1990s households were supplied by British Gas and electricity came from your local supplier. But deregulation of the gas market now allows consumers to choose which company they want to supply their energy. There are now around 20 different gas and electricity suppliers in the UK so you are now free to shop around for the cheapest option. Consider switching to a dual fuel tariff QI 2011 Q2 2011 Most suppliers offer a dual fuel discount. The discounts range from around 2% to a flat rate of nearly £I. ENERGY BILL BREAKDOWN Your gas and electricity costs include the following: 1% 4% 2% 10% 5% 5% 3% 4% 21% 17% 64% 63% total does not equal 100 due to rounding Wholesale Energy, Supply Costs, Value Added Tax (VAT) and Profit Margin The tax is paid directly to HM Customs by the Wholesale energy:The actual cost of the gas or electricity. supplier. Supply costs: Sales, billing, and other costs associated with running a retail business. Environmental Costs Profit margin: Profit made by the supplier. Government programmes put in place to save energy, reduce emissions, and address climate change. Distribution Charges Building, maintenance, and operation costs of the local Meter Provision gas pipes and electricity wires that deliver energy The cost of your meter, including installation and directly to your home. maintenance. Transmission Charges These average percentages are based on average annual consumption Cost associated with building, maintaining and operat- figures of 3,300 kWh for electricity and 16,500 kWh for gas, averaged across all "big six" suppliers and across Great Britain in January 2011 ing the high pressure gas and high voltage transmission networks. SOURCES: OFGEM.GOV.UK | DECC.GOV.UK | EDFENERGY.COM THISISMONEY.CO.UK COCOO -0107 -000z F0661 1980- OL6

Gas & electricity prices heating up

shared by andrewmoir on Nov 25
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