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Gas and electricity rose by 29.7% in the past year, compared with a 15% increase for the EU.
The Organisation for Economic Co-operation and Development (OECD) statistics showed that German customers experienced a 12.2 percent price increase while their French counterparts saw their energy bills shoot up by 14 percent.
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Official government figures show almost 3 million vulnerable households have fallen into “fuel poverty” in 2006, showing an increase of 700,000 over the 2005 statistics. Fuel poverty is defined as households who spend more than 10% of their income on fuel.
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As we told you on this site in August, nobody in the northern hemisphere is using heating oil in summer, so it was not surprising the price of oil slumped to below $100 a barrel last week amid fears of a world trade slowdown and low demand. However, yesterday saw the biggest one-day jump in the price of oil, going up by over $16 to finish at more than $120 a barrel, the biggest one-day jump ever recorded.
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Crude oil prices were on the rise again yesterday, trading above $100 a barrel. Prices had dropped significantly after the summer peak of $147. It is thought that the slowdown in global economic activity and the increased output from countries like Saudi Arabia had been the main reasons for the decline; coupled with low demand during the summer months for heating oil.
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Scottish Power and Npower have followed the other utility companies with massive price rises in gas and electricity, with gas up by around 34% and 26 % respectively and electricity by 9% and 14%. All price rises are effective as of this week and neither firm has ruled out further price increases citing increased wholesale prices as the reason for the large increases.
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The price of heating oil went higher today as the cost of crude oil rose ahead of the tropical storm Gustav that is moving towards the Gulf of Mexico. Several firms are evacuating staff from oil rigs as a precautionary measure.
The Gulf has many off shore installations and these could be badly affected if Gustav is as strong as feared.
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Home Information Packs (Hips) are compulsory
in England and Wales. They were introduced to give buyers more information and to preventing
sales from falling through. Although the National Association of Estate Agents are calling
for them to be slimmed down, they still want an Energy Performance Certificate to be included.
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The Office for National Statistics
have said that over 16 million households in the UK now have an Internet access, up by about
10% on 2007. With every Internet access goes a PC, a PC that could be running the latest HeatingSave software and reducing the cost of central heating bills.
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Another of the big UK energy suppliers has announced fuel price hikes to domestic customers, which is also likely to affect most small businesses too. Tomorrow, E.On will raise the price it charges for gas by 26%
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Just because your heating system is old it doesn't mean that you have to spend lots of money completely replacing the boiler, pipework and infrastructure with an energy efficient heating system.
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