Millions of homeowners will be forced to pay hundreds more to heat and light their homes after British Gas announced massive gas price hikes of 35 per cent.
Electricity prices will also rise nine per cent, meaning the average dual fuel bill will increase by a massive £262 per year.
The hikes are to come into effect immediately and are the second increase by the company this year. They come days after power giant EDF said it was increasing prices by 22 per cent and electricity by 17 per cent.
All the other main suppliers such as Southern Electric, Eon and npower are expected to follow suit shortly.
Consumer groups said it could push average fuel prices to more than
1,500 a year by Christmas.
Tim Wolfenden, head of home services at eSwitch, said today’s increases had
taken him by surprise, adding: 'It is
drastic news for a huge number of consumers.
'These are the highest rises we
have seen in gas prices in years, if not
ever. We could see prices going up for
the next five years.'
full article
Wednesday, 30 July 2008
Monday, 28 July 2008
Big rises in gas and electricity bills this year, MPs warn
The Government should introduce a windfall tax on utility companies to help hard-pressed families, MPs say.
The market in gas and electricity is not functioning properly and the dominance of six energy companies may be stifling competition and pushing up prices, according to the report.
MPs on the Business and Enterprise Committee have spent five months investigating the British energy market after consumers experienced inflation-busting increases last winter.
Today's report predicts that "gas and electricity bills for domestic consumers will rise significantly in the near future, over and above the increases already announced this year, with serious consequences for millions of households."
The Committee also warns that industry is paying more for energy than their European counterparts which is putting "many thousands of jobs" at risk.
full article
The market in gas and electricity is not functioning properly and the dominance of six energy companies may be stifling competition and pushing up prices, according to the report.
MPs on the Business and Enterprise Committee have spent five months investigating the British energy market after consumers experienced inflation-busting increases last winter.
Today's report predicts that "gas and electricity bills for domestic consumers will rise significantly in the near future, over and above the increases already announced this year, with serious consequences for millions of households."
The Committee also warns that industry is paying more for energy than their European counterparts which is putting "many thousands of jobs" at risk.
full article
Sunday, 27 July 2008
How to drive down the costs of motoring
The message to drivers is increasingly clear - buy a car that emits low amounts of carbon dioxide and you will save on vehicle excise duty (VED) and running costs. With the price of petrol now averaging up to 119.5p a litre, and the Government determined to hit “dirty” drivers with increasingly high taxes, perhaps the time has come to trade in your car for something that is cheaper to buy, run and insure - and is better for the environment.
New VED bands will be introduced next April to ensure that the most polluting cars pay more tax. While cars produced before 2001 will not be affected by the changes, campaigners say that many newer family cars will be hit by much higher tax bills. For example, the owner of a Citroën C4 Picasso bought after 2001 paid £210 VED this year, but faces bills next year of £300, and £310 in 2010.
Ian Crowder, at AA Insurance, says: “The new bands will undoubtedly make VED more complicated and many drivers may be surprised at how much more tax they will have to pay. If you want to drive down the costs of motoring, your first priority will be to find the greenest car possible.
full article
New VED bands will be introduced next April to ensure that the most polluting cars pay more tax. While cars produced before 2001 will not be affected by the changes, campaigners say that many newer family cars will be hit by much higher tax bills. For example, the owner of a Citroën C4 Picasso bought after 2001 paid £210 VED this year, but faces bills next year of £300, and £310 in 2010.
Ian Crowder, at AA Insurance, says: “The new bands will undoubtedly make VED more complicated and many drivers may be surprised at how much more tax they will have to pay. If you want to drive down the costs of motoring, your first priority will be to find the greenest car possible.
full article
Brown plugs into future of electric cars
THE prime minister has pledged £90m in government money to help make Britain “the European capital for electric cars”, a promise that has already sparked interest from motor-industry giants such as General Motors.
GM has already previewed its Flexstream concept car — a hybrid vehicle that is part of the company’s E-Flex programme — which it hopes to launch in America by the end of 2010. By 2011 it intends to sell the car in Europe as a Vauxhall or Saab. Although very cheap to run, the price will be high — about £32,000.
Like other carmakers, GM is faced with the high cost of reducing the fuel consumption and thereby carbon-dioxide emissions of its conventional cars to meet forthcoming European rules that are expected to require a fleet average of 130 g/km carbon dioxide.
Forster said that it was seeking a national sponsor for a “super credit” scheme that would allow ultra-low carbon-dioxide vehicles (below 50g/km) — like its E-Flex cars — to offset larger and more polluting models. If Britain was prepared to champion this idea within the EU, GM would consider making its electric vehicles at the Ellesmere Port plant on Merseyside.
The first E-Flex model will be based on the next generation of Vauxhall Astra, which will be made at Ellesmere Port. GM anticipates first-year production of 30,000 cars for Europe. Bob Lutz, GM vice chairman in charge of production development, believes that worldwide production of E-Flex cars could be 1m by 2020.
full article
GM has already previewed its Flexstream concept car — a hybrid vehicle that is part of the company’s E-Flex programme — which it hopes to launch in America by the end of 2010. By 2011 it intends to sell the car in Europe as a Vauxhall or Saab. Although very cheap to run, the price will be high — about £32,000.
Like other carmakers, GM is faced with the high cost of reducing the fuel consumption and thereby carbon-dioxide emissions of its conventional cars to meet forthcoming European rules that are expected to require a fleet average of 130 g/km carbon dioxide.
Forster said that it was seeking a national sponsor for a “super credit” scheme that would allow ultra-low carbon-dioxide vehicles (below 50g/km) — like its E-Flex cars — to offset larger and more polluting models. If Britain was prepared to champion this idea within the EU, GM would consider making its electric vehicles at the Ellesmere Port plant on Merseyside.
The first E-Flex model will be based on the next generation of Vauxhall Astra, which will be made at Ellesmere Port. GM anticipates first-year production of 30,000 cars for Europe. Bob Lutz, GM vice chairman in charge of production development, believes that worldwide production of E-Flex cars could be 1m by 2020.
full article
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