Falling energy prices ‘may not benefit homeowners’

The predicted fall in energy prices expected to take place next year is likely to have little effect on the cost of household energy bills, it has been claimed.

uSwitch.com has stated that even if a ten per cent price was implemented, the average household will still be paying 28 per cent more for their energy than they were at the beginning of 2008.

Figures from the price comparison site show that the cost of household energy bills has risen 42 per cent throughout 2008 and the company has urged consumers to act now in an attempt to cut their bills.

“I would urge all householders to take action now by ensuring they are paying the lowest possible price for their energy,” director of consumer policy at uSwitch.com Ann Robinson advised.

Those struggling with their finances may wish to implement this advice into a debt management plan.

Nearly five million of the six million peoples currently paying for their gas and electricity using prepayment meters could save money by switching to another plan, uSwitch.com stated recently.

By Tom Musk