With the Prime Minister’s announcement of a snap general election, any reforms planned for cheaper energy prices are most likely going to be put on the back burner, leaving UK households exposed to further energy price hikes.
As the UK digests the news of the snap general elections to be held on 8th June, the Prime Minister’s intentions to intervene in the energy market seems slim. The energy market is facing tough times bearing the energy price increase by the Big Six energy suppliers and some energy experts were looking forward to some respite from the PM. However, with the snap election triggered by tensions on Brexit negotiations any reform seems unlikely in the near term.
In order to stabilize the energy sector, the government had considered energy capping as a solution for unfair price hikes but despite the PM claiming there has been a 158 per cent hike in energy prices in 15 years, a concrete solution was not provided.
Since her bold statement to bring harmony to the energy market, EDF Energy increased prices for the second time in four months, taking the total price rise of electricity to 18 per cent. Naturally there was an uproar from consumer experts and even MP’s such as Mr.Pen Rose who commented that “The energy market is manifestly not working and the Government needs to step in to protect the vast majority of consumers who find themselves on these standard tariffs.”
Needless to say, energy customers have to now wait longer to get the cheaper energy bills that they so desperately seek.
Quite possibly, there is also a risk that other energy suppliers will follow EDF’s Energy’s path and increase prices further. To some extent the snap election has given energy suppliers the perfect opportunity as their actions may go unnoticed as the media focuses on the smoke created by the government.
Frustratingly, whilst the public has come to accept the outcome of the referendum, the politicians have not, affecting the energy consumers once again.
Regardless of this, Shay Ramani, Founder of FreePriceCompare says, “Yes things have become tough, but all customers can still protect themselves from a possible secondary increase in energy prices. Until the new tariffs come into effect, consumers have the opportunity to switch suppliers and save”.
To combat the uncertainty in the energy market, we advise all energy consumers to do a quick 4-minute comparison with FreePriceCompare. Our energy comparison tool is easy to use and we are fully independent and impartial.
Should you wish to speak to our energy team immediately, you can contact us on 02034757476.
Compare and see how much you can save on your energy bills