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Last of energy groups raise prices
01 September, 2008The last of the 'big six' energy companies in the UK have announced their plans to increase their tariff charges it has been reported.
The last of the 'big six' energy companies in the UK have announced their plans to increase their tariff charges it has been reported.
Both Scottish Power and Npower have said that their prices for gas and electricity will rise, with Npower announcing that its price increases would be effective immediately.
Scottish Power announced a price hike of 34 per cent for gas bills and nine per cent for electricity, whereas Npower revealed a 26 per cent gas bill increase and a 14 per cent rise in electricity prices.
The energy suppliers cited the rising cost of oil and the domino effect it has had on gas prices for the rise in household bill costs.
However, the country's biggest energy suppliers are also lobbying the government in order to avoid having to pay a windfall tax.
The chancellor Alistair Darling has been hoping to charge the big six companies a one-off payment to counter some of their extraordinarily high profits made during earlier price hikes.
Many of the firms now however are arguing against such price increases, suggesting that such increases will only lead to yet higher prices still.
The long, drawn-out sale of British Energy (BE) to EDF Energy has come to an end after the French energy firm bought BE for £12.5 billion, it has been reported.
Government hopes to have an EDF Energy-British Energy (BE) tie up within two weeks have been dubbed "optimistic" by the British nuclear company, according to a recent report.
Gordon Brown is facing the prospect of a major defeat over the government's reluctance to impose a windfall tax on energy companies, it has been reported.
The City of London has launched a campaign against Gordon Brown in order to convince him that introducing a windfall tax on energy companies should be avoided.
TaylorWimpey has reported phenomenally poor first half results for the year so far, recording a loss of £1.5 billion, it has been announced.