Electricity Prices

in Energy
According to the Energy Retail Association around 100,000 people switch energy supplier each week, the switching rates in Britain are the highest of any energy market in the world.

The main players within the UK energy market are the following six energy suppliers British Gas, EDF, Eon, Npower, Scottish and Southern Energy and Scottish Power. Together 98% of UK domestic energy customers are supplied by these suppliers. In terms of electricity as of the beginning of 2008, British Gas had the largest share of the electricity customers, followed by Eon, Scottish and Southern Energy, Npower, EDF and Scottish Power. The smaller electricity suppliers such as Ecotricity, First Utility, Good Energy, and Utilita accounted for roughly 0.3% of the UK domestic electricity supply.

As of December 2010 price rises are here again but customers must decide if they want to fix their bills now, or gamble that we have seen the last of the increases for the winter. Suppliers have caused anger by upping prices just in time for the winter, when usage is heaviest however for a few fast-acting customers it was ok as they were able to snap up a cheap fixed deal before all prices rose.

With electricity prices having already been raised once this winter it seems likely that the best non-fixed deals will remain better value then fixed tariffs. EDF Energy is the only big six supplier to have guaranteed to freeze standard gas and electricity prices for customers until March 2011, while E.ON is yet to make its pricing decision known.

According to experts we can expect to see increases in electricity prices of between 5-10% over the coming winter months with EDF first making the move and increasing rates by 2.6% from September

If you have never switched energy supplier or have not done it for a while then now is the time to do it, during the winter months. This is simply due to the fact that more energy is used during this period.

Electricity prices are different all over the country and the cheapest electricity supplier for you will depend upon where you live. By doing a quick electricity comparison you can see which tariff will be cheapest where you live.
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This article was published on 2010/12/31