UK consumers ‘using less but paying £410 more for energy’
Consumers in the UK are paying £410 more for their gas and electricity every year than they did a decade ago despite using less energy, Which? reveals.
It found energy spending has rocketed by 52% yearly, according to figures from the Office for National Statistics (ONS).
Which? claims energy bills have risen from £790 in 2003/04 to £1,200 in 2012 – while energy use has dropped by 17% during the same period.
The price of gas and electricity has outstripped inflation since 2003/04, with an average increase of 137% compared to 27%.
In contrast, water costs have risen by 62% in the same period while other housing costs such as rent have increased by 27%.
Richard Lloyd, Executive Director of Which? said the energy results were “shocking”, adding: “That’s why it is all the more urgent that regulators and government act to give consumers confidence that the price we are paying for our energy is fair.”
The consumer body’s research also revealed energy prices are still one of the biggest financial concerns for consumers, with seven in 10 worried about it.
Energy Secretary Ed Davey said: “We want an energy market that works for consumers which is why we ordered an annual competition assessment that has seen the whole sector referred to the Competition and Markets Authority for the first time.
“In the meantime Government is making it easier and quicker for people to switch energy suppliers and has acted to cut household bills by an average of £50 this year.”