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Put a limit on how much energy companys can raise bills yearly

Submitted on Tuesday 16th August 2011

Published on Wednesday 17th August 2011

Current status: Closed

Closed: Friday 17th August 2012

Signatures: 17

Tagged with

England ~ Miles ~ UK

Petition Action

Put a limit on how much energy companys can raise bills yearly

Additional Information

Energy company Npower is to raise gas prices by 15.7% and electricity prices by 7.2% from 1 October, it has said.
The supplier, is the fifth of the "big six" energy firms to announce increases in UK domestic bills in recent weeks - only EDF has not.
Npower said customers with a dual fuel tariff would see prices rise by 12.2% from October.
"I know it hurts everyone when we put up prices and I wish we did not have to," said Kevin Miles, of Npower.
"Although our half year profits were better than last year they do not begin to match the billions of pounds we are investing in energy for the future.
"With reduced quantities of North Sea gas, we are now forced to buy energy on the volatile global wholesale market''. The Bank of England has predicted that rising utility bills will drive inflation to 5% by the end of the year, which will put more pressure on already squeezed households.
A 'cap' on energy prices is needed to counter greedy suppliers.

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