People find sudden fluctuation in gas and electricity prices in last 2-3 months. Even though it is hard to say a particular reason, it is a cause of several reasons. Britain energy market said, energy providers have huge competition in terms of cost and service to increase customers. Suppliers have to manage both including their profit. Today, I am going to discuss the about Reasons behind fluctuation of gas and electricity prices in the UK Market.
Factors influence gas and electricity prices –
- Changing of the season is responsible for the fluctuation in energy cost.
- Competition between energy suppliers to win customers.
- Based on the time of buying energy from wholesale energy market.
- Market reforms proposed by Ofgem and tax charges proposed by the government.
- Networks that perform transportation activities between producers and regional distributors.
Energy prices changes in 2017
Saving on gas and electricity bills is possible if you are updated with energy price changes. It will help in making selection on which energy supplier is best for you. Both EDF Energy and npower raise prices for standard variable rate plans. EDF raised prices by 8.4% for electricity and npower’s 9.8% for dual fuel customers. Moreover, in March, British Gas, E.ON and SSE’s price freezes are set to end, it may be possible that they will also increase prices. Even, smaller gas and electricity suppliers announced price rises ranging from 2.9% to 15%.
If my supplier won’t reduce energy prices, how can I cut down my bill?
Check for cheaper energy deal for you. If you find it interesting, you can switch. Perform gas and electricity comparison to know about all the energy deals available in the market. Once you make a choice, you can switch energy provider in just 5 minutes.
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