Energy costs on the rise

Save your money by shopping around for your gas and electricity and help save the planet by offsetting your carbon emissions.

Despite price cuts in the first six months, energy costs look certain to rise again this year. The oil price rose by 20 per cent in June and July and has been flirting with record highs at the height of summer.

Some analysts are talking about $100 a barrel by the end of the year as demand rises in the winter months. That doesn’t just mean more expensive petrol on the forecourts – it means more expensive utility bills as well, both electricity and gas.

British Gas has already warned it won’t be making any further price cuts, after two reductions since March. In the energy markets, wholesale gas prices for this winter are already close to all-time highs.

Switching utility suppliers is an easy way to save money on your gas and electricity bills. All you are doing is changing the administration side of things. Moneyextra has teamed up with Xelector to provide website users with an Energywatch approved energy comparison service.

Robin Amlôt of Moneyextra.com said, “There’s been a lot of hot air in the press about British Gas and its profits. But the simple fact is that our fuel bills are likely to be going up over the next six months.

“With higher mortgage costs as well, thanks to rising interest rates, it’s more important than ever that households keep an eye on their spending, making sure they’re getting the best value for money in gas and electricity.”

“We’re also offering our users the ability to offset their carbon emissions. There’s more to be done than just switching gas and electricity suppliers so you are using renewable or green energy,” says Robin Amlôt.

“Moneyextra users can offset any remaining CO2 by buying carbon credits or certificates from companies who offset on our behalf.”