Scottish Power seem to be the only UK Energy company not announcing massive price hikes at the moment.
Centrica ( British Gas) has just announced that it is raising gas prices by a record 35% and electricity prices by 9% with immediate effect. Centrica is blaming "soaring wholesale energy prices".
EDF also announced immediate and significant price rises for both Electricity and Gas. The EDF increases are 17% for electricity and 22% for gas. Npower have now also stopped their Fixed Price Products (“One”)
Scottish Power's Fixed Price Energy 2009 is undoubtedly the cheapest Fixed Price deal available at the moment. They are offering no price rises until 1st September 2009 but how long they will keep this offer open is anyones guess.
For anyone looking to shop around for the best Gas and Electricity prices the choices are getting thinner on the ground. Scottish Power appear to be supplier of choice at the moment.
There has been much speculation about the profits being made by the Energy companies and if on the back of these pprice rises they announce significant profit increases next year you can bet there will be an outcry and calls for windfall taxes.
There is starting to be considerable concern that we will begin to see significant numbers of people suffering "fuel poverty" this year - where those on low restricted income start having to make choices between heating their homes or eating and other necessities. Given the rises in petrol and food which have already taken place life is going to be very difficult for those on low incomes.