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The Battle Heats Up Between Energy Suppliers
Household energy prices continue to be a hot topic, particularly with winter fast approaching. Such is the level of concern expressed about the rising cost of gas and electricity that the Labour Party is using the issue as a bargaining tool, pledging to freeze prices for 18 months if voted into power.
Much criticism has been levelled at the so-called ‘Big Six’, comprised of British Gas, EDF Energy, E.ON, npower, Scottish Power and SSE for the unparalleled increase in fuel bills over the past few years. And it seems as though people are slowly starting to neglect the Big Six’ in preference for some of the smaller energy companies such as Ovo Energy, First Utility and Extra Energy with reports last month showing that they’ve lost over 7% of customers to the lesser known energy firms in the past five years. However, they still enjoy a very healthy dominance, boasting an overall market share of 92.4%.
Despite their continued stranglehold, it seems as though the ‘Big Six’ are beginning to listen as they now occupy five places in the Top 10 Energy Best Buy table, a table headed by Extra Energy who are offering a 12-month fixed-rate tariff until November 2015 at a cost of £984.
Whether it is a permanent reaction from the Big Six is very debatable, with many experts speculating that future increases are inevitable. When that happens, it’s difficult to say, but it does provide food for thought for those looking to switch or who have not contemplated it till now.
If you’re struggling with your energy bills then you really need to think about switching to an alternative firm as doing so can save you anything up to £300 per year.
You should also replace any old windows and doors to permanently reduce heat loss by buying an energy efficient equivalent from Permaframe.