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Latest News
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Energy price rises 'could mean consumers switching to cheaper deals'
Millions of Brits could be looking to switch energy providers if the costs for utilities continue to riseaccording to research carried out by the price comparison site MoneyExpert.
It found that up to 726,000 people missed payment on a gas or electricity bill in the last six months. The company cited the increasing cost of living in the UK as a major contributory factor.
It further warned that if payments are missed consumers could be locked into expensive tariffs until the debt is settled.
Sean Gardner, founder of MoneyExpert.com, said: "It's inevitable that gas and electricity prices will rise again, so we anticipate large numbers of people to look to switch to the most competitive deals."
"However, if you've missed a bill you won't have that luxury and could be hit with price hikes that you just can't avoid."
In related news, Consumer watchdog Energywatch has reported that homeowners in Wales are believed to be paying £19 a year more their energy supply than the rest of the UK, according to the BBC.
See how much you could borrow with Lombard Direct loans
© Adfero Ltd
22/05/2008 16:12:59
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