Energy caps 'missed out on by most'

18/08/2008

A majority of British gas and electricity customers have had their bills hiked - due to their not switching to a capped tariff.

Energy firms including British Gas have put their general plans up by an average of around 20 per cent recently, leading many people to move to cheaper rates.

Research from financial website Fool.co.uk showed today that just 22 per cent of people successfully capped their energy bills prior to these latest hikes coming into effect, however.

A further 54 per cent said that they wanted to cap, but did not do so in time to avoid the rises.

"Consumers are faced with three choices," Laura Starkey at Fool.co.uk said.

"First, they wait and see. But this could be at the risk of missing the last of the good deals. Second, they take a capped tariff now, and feel the security of knowing their outgoings, albeit at higher prices than before.

"Or thirdly, they get ready to start switching. Finding a new tariff after each price hike may be the best way to keep on top of rising prices by applying a little regular legwork."

Tags; Housing Debt and Bills, Budgeting Advice, Current UK Economy,

• Share
• 
• 
• Store
• 
• Follow
•