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Why Has the Average Energy Bill Doubled Since 2004
17/08/2011
Since 2004, the average annual energy bill has more than doubled, from £522 to its current level of £1,132.
It has recently been published by energy expert uSwitch that this rise in energy costs to households has been mainly down to two factors; wholesale price rises and investment in future energy sources. The cost of fuel makes up 60% of each energy bill and prices change on a daily basis, the big six energy firms also buy energy in advance and try to hedge their bets by purchasing at the most reasonable price level.
Taxes that are based on environmental issues also adds £84 to the average annual energy bill, and with tough carbon emissions targets this is likely to keep growing.
Homeowners aged over 55 years who are worried about the cost of energy and would like to know how much money the value of their property could release to increase their income, can find out by contacting therightequityrelease.co.uk for equity release advice.
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