MSE News: Energy prices could jump by 60% by 2016

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  • housebug
    housebug Posts: 201 Forumite
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    "Suppliers have been arguing they can't cut prices because they bought their current supplies last year when the wholesale price was high."

    Am I the only one tired of that old song? The storage capacity in the UK is pitiful so I can't see how energy bought more than a year ago hasn't long since been sold and used. Wholesale prices almost halved last Summer, but the savings were never passed onto U.K. consumers. A unique situation in itself, as I know for a fact that the lower cost to the consumer is passed on in countries like Canada and the U.S.

    Its hard to know what to believe. Its weird to hear crash predictions coming a compnay in the same industry that helped drive up costs in the first place with irresponsible speculation and dodgy credit deals.
  • mattcanary
    mattcanary Posts: 4,420 Forumite
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    A 60% increase in 7 years is massive. The majority of people won't get equvalent or higher pay rises (even taking into account the effect of compounding).
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