MPs question the big six energy giants

Commenting on MPs questioning the big six energy giants today, Scott Byrom, utilities manager at price comparison website, moneysupermarket.com, said: "Today's meeting between energy providers and MPs has fuelled further speculation that energy bills could rise by 40 per cent before the end of the year.

"These price hikes will hit those languishing on standard tariffs harder than anyone else and could mean their bills will exceed £1,400 a year. However, these customers have the option to protect themselves against any increases by "fixing" their bills now.

"Those willing to "risk the fix" can avoid any further price hikes by locking-in their prices until the end of 2009. On average, there is only 16p a year difference between standard and fixed tariffs so consumers should have no excuse for not protecting themselves from future increases to their energy bills.

"Fixed tariffs are likely to only be available for a limited time meaning a case of first come first served, therefore, I'd advise consumers to act fast.

"Whether opting for a fixed tariff or not, standard customers are encouraged to find the best possible deal in order to soften the blow of any future price hikes."