Fool.co.uk: Act now to avoid energy price rises in nine days

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Fool.co.uk: Act now to avoid energy price rises in nine days

Wed 23rd Jul 2008

Cheap energy could run out in nine days, money website Fool.co.uk is warning.

The website believes that price rises could happen this month if British Gas owner Centrica does not impress shareholders when it reports first-half results on July 31.

If British Gas prices increase, other suppliers are likely to follow suit, the site believes.

Fool.co.uk said that energy comparison site Xelector predicts utility bills to rise by 15 to 20 per cent by September and again early in the New Year.

This could lead to household bills increasing by 50 per cent by February.

David Kuo, head of personal finance at Fool.co.uk, urged households to cap gas and electricity prices now, explaining: "Capped-rate deals may not be the cheapest tariffs on the market, but they will look a bargain in a few months' time."

Water companies are seeking greater powers to tackle unpaid bills as the economy worsens, according to the Times.

The newspaper also said that Citizens Advice had reported a 13 per cent increase in inquiries about water and energy bills in the first two months of the year.

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