UK Homeowners Paying Too Much For Energy

By now, most people have noticed that energy bills are going up. However, what a lot of people do not know, is that their energy bills could be going up because they do not understand their bills. According to a new survey, some 40 percent of Brits are “clueless” when it comes to their energy bills and monthly usage.

16 percent of people have no idea how much they are spending on energy bills every year. A further 20 percent are clueless on how to read their energy bill. This is causing a lot of confusion among many homeowners. Experts say that this means that some homeowners could be paying higher bills because they are not really sure how their energy bills work. Numbers this year have been even worse since gas prices have jumped by 16 percent. Electricity prices have been on the rise as well, and there does not seem to be any relief in sight.

The message that they are trying to send to consumers is very clear. Medium energy users are paying too much for their utility bills if they are paying more than £37 for electricity or £51 for gas per month. The people who are paying over this should start thinking about switching to a better tariff.

The survey found out, for many people in the UK, their gas and electricity costs are the second largest outgoing bill every month. The only bill that is more is mortgage or rent payments. The problem is, most people do not have to live this way if they would pay closer attention to their energy bills. People should not just assume that they are getting the best deal without researching their situation a bit further.

This survey comes on the heels of an ongoing investigation by Ofgem into the 

“Big Six” energy suppliers in the UK. There have been some growing concerns over price hikes. Some feel that these price hikes may be unnecessary. 

Currently, Ofgem is looking into how energy companies calculate their profits. Some think that the energy companies may be manipulating their profits to justify their price hikes.

25/08/11 - electric.co.uk 

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