Gas & Electricity

Over half (54%) of householders were unable to beat rate rises after failing to cap their energy tariffs this month, according to a poll by money website Fool.co.uk.

Over 12.5 million customers were affected by EDF Energy's and British Gas' second price increase in six months, and other suppliers are now expected to follow suit in the coming weeks.

With a summer of energy price hikes in full swing, a third of Brits (34 per cent) are already worried they cannot afford to heat their homes this winter.

In the wake of energy price hikes from British Gas (up to 35 per cent) and EDF Energy (up to 22 per cent) Fairinvestment.co.uk is offering tips on how to keep your energy bills as low as possible.

As providers announce that gas prices alone are set to rise by up to 60%, Saga Home Insurance reveals that over 7 million over 50s are already planning to make sacrifices elsewhere in order to meet the rising costs. And who do they blame... Government!

As the cost of oil continues to soar, eco-homes portal, whatgreenhome.com, is forming an alliance with green energy uk to give visitors to the site the opportunity to quickly and easily switch their home or business electricity supply to 100 per cent renewable and 100 per cent green electricity.

While consumers struggle to pay the bills, energy companies continue to sit on profits of almost £1billion as a result of raising their prices.

Following the announcement by British Gas that customers are set to face a 35% rise in gas prices, ASDA Financial Services is urging the public to shop around for the best possible deal and choice of energy supplier.

£992 million profit for Centrica and £166 million for British Gas - Scott Byrom, utilities manager at moneysupermarket.com, comments: "Despite two price rises this year which has left British Gas customers facing a total rise of 56 per cent for gas and 25 per cent for electricity, British Gas parent company Centrica today reports a 19 per cent fall in profits.

Commenting on plans by British Gas to raise the price of gas by 35% and electricity by 9%, Kate Green chief executive of the Child Poverty Action Group said: "These staggering energy price hikes risk hitting the poorest families hardest.

Sean Gardner, director of MoneyExpert.com, said: "Another domino falls as British Gas follows the lead of EDF. Time is running out for switching to beat the price hikes so we'd urge everyone to act now.

Commenting on British Gas increasing its gas and electricity prices, Scott Byrom, utilities manager at price comparison site, moneysupermarket.com, said: "Hot on the heels of EDF's price hike last Friday, British Gas bill payers are next to face the misery of price rises.

British Gas has become the second major energy supplier to announce a second price rise this year. The giant is putting its prices up again by 35% or £230 for gas and 9% or £37 for electricity coming into effect today.

A second major utility company has raised prices seven days after money website Fool.co.uk's warned that cheap energy will run out by 30 July 2008.

Following EDF's announcement of price hikes and Scottish Power's closure of fixed price plans to new customers, Rachel Mason, from financial comparison site Fairinvestment.co.uk advises consumers to shop around and fix as soon as possible.