The Welsh Liberal Democrat spokesperson on social justice, Peter Black has warned that the Big Six energy suppliers will all put up prices ready for winter when our power consumption goes up.
Mr. Black was commenting in the light of the decision by SSE, who own SWALEC in Wales that they will increase prices by 8.2%. He believes that all the signs are that the remaining energy suppliers will follow suit and increase their gas and electricity prices further before the end of the year.
Mr Black said:
“Now that SWALEC have taken the lead and made a price hike announcement which is almost three times the rate of inflation, all the rest will follow suit as if by magic. Once again, it’s ‘game on’ for energy companies, but more hardship for the low-paid, and those on fixed incomes like pensioners. The energy companies make no real attempt to compete with each other, and that is something that the UK Government needs to address urgently.
“In the meantime, nobody should imagine that Labour’s promise to cap energy prices in two years time will have any effect on energy suppliers other than to encourage them – as if they needed encouraging – to put their prices up even higher between now and then.
“The only real way to fight back is through consumer power, and that means switching our energy suppliers to those who offer a better deal. There are suppliers who are offering fixed price deals that will save the average user up to £280 a year fixed for a year. Other deals are for longer periods, and there is one supplier which will fix until 2017.”
