Expert Predicts £1,500 Fuel Bills

The average gas and electricity bill might hit £1,500 in 2009, an industry expert has claimed.

Mark Todd, the director of website energyhelpline.com, predicted the rise due to the increasing wholesale costs of gas currently being observed on the global markets. Should he be proved right, gas and electricity will cost around 50 per cent more than their current total of £1,048, and almost three times 2005's average of £662.

"If this year's prices weren't bad enough, gas prices are set to get much, much worse," Mr Todd said. "If these increases are passed on to the consumer, the UK could be facing a 66 per cent rise in gas prices. Electricity bills are also expected to rise by a huge amount as 40 per cent of our electricity is generated from gas."

Meanwhile, gas and electricity watchdog Energywatch is also expecting higher customer bills over the months to come. The body attributes this rise not just to wholesale cost increases, but to a lack of competition among big energy suppliers in the UK.

A spokesman said: "We are not convinced the market is working in the best interests of the consumer. All too often we see soaring wholesale gas prices which lead inevitably to higher bills."
 

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