Before the ‘Credit crunch’ began to give us nightmares at the end of 2008, the big news was the volatility and extreme price rises in the oil and gas markets. Before Christmas we began to see fuel (petrol at the pumps) prices dropping from £1.15 to a distinctly more manageable £0.87 by the start of 2009. Although, the ‘Big Six’ energy suppliers seem somewhat more reluctant to pass these benefits back to the consumer. The waters have been significantly muddied by the dispute between Russia and Ukraine, which has caused a sharp- though probably short-lived- increase in the cost of a barrel of oil.
The government, however, has been quick to enter the fray warning the UK energy suppliers not to use the Russian dispute as an excuse for not passing price reductions back to householders. With such uncertainty likely to remain throughout 2009 it seems increasingly difficult for consumers to find out who offers the best value and who is trying to capitalise of the markets volatility.
The smart advice is to compare gas and electricity prices to see which supplier performs best in your area and who has already passed price reductions back to the end-users. There are many price comparison sites on the internet to help consumers get the best value and most people who switched their supply did so online. The advantages being, all the suppliers deals can be laid side-by-side for ease, the energy prices are regularly updated giving the consumer access to the hot deals as soon as they are available, and perhaps most importantly, most sites have expert advice and impartial articles to help bust the jargon and ensure the consumer is able to make an informed choice.
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Tags: compare energy prices