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Communications and utilities
News Release from: uSwitch | Subject: Price rise
Edited by the Insidemoneytalk Editorial
Team on 07 January 2008
uSwitch.com comments on speculation that
a big supplier may be announcing a price
rise tomorrow
Tim Wolfenden, Head of Home Services at uSwitch.com, comments on mounting speculation that one of the big six suppliers may be announcing a price rise tomorrow:
"Until an announcement is made this is not a 'done deal' However, price rises have been on the horizon for some time so I don't think anybody will be particularly surprised by this speculation.Ever since British Gas and npower announced price increases on their market trackers and npower followed this up with a price hike on its online plan, it has been clear that prices are going to be heading North again with the smart money on a 15% rise
This article was originally published on Insidemoneytalk on 23 Feb 2007 at 8.00am (UK)
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At the moment rises have only been on 'niche' plans - ones that don't affect many customers.
The 'biggie' will be when one of the suppliers slaps a price increase on their standard plans - this is the one that will hit and hurt the most customers.
And once one of the suppliers makes this move it will give competitors the green light to go ahead with price increases of their own.
This speculation could rapidly turn into price rise misery for consumers in 2008." For more information visit www.uSwitch.com or call 0800 093 06 07.
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