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SSE to freeze energy prices this winter | SSE to freeze energy prices this winter |
(35 minutes later) | |
SSE, one of Britain’s “big six” energy suppliers, has frozen its standard prices this winter, putting pressure on its rivals to do the same. | SSE, one of Britain’s “big six” energy suppliers, has frozen its standard prices this winter, putting pressure on its rivals to do the same. |
British wholesale gas and electricity prices have risen about 30% and 40% respectively since June, along with a bounceback in other commodities such as coal, leading to speculation that some electricity suppliers could raise prices. | British wholesale gas and electricity prices have risen about 30% and 40% respectively since June, along with a bounceback in other commodities such as coal, leading to speculation that some electricity suppliers could raise prices. |
“We understand that the prospect of increasing bills during the colder months is a real concern for customers, particularly as they start to turn up the heating,” Will Morris, SSE’s managing director of retail, said. | “We understand that the prospect of increasing bills during the colder months is a real concern for customers, particularly as they start to turn up the heating,” Will Morris, SSE’s managing director of retail, said. |
The company said prices would not rise until April 2017 at the earliest. | The company said prices would not rise until April 2017 at the earliest. |
The move puts pressure on rivals Iberdrola’s Scottish Power, Centrica’s British Gas, RWE’s npower, EON and EDF Energy to do the same. | The move puts pressure on rivals Iberdrola’s Scottish Power, Centrica’s British Gas, RWE’s npower, EON and EDF Energy to do the same. |
Energy bills have doubled in Britain over the past decade to about £1,200 a year, and the government has said it could intervene in the market if it believes prices are too high. | Energy bills have doubled in Britain over the past decade to about £1,200 a year, and the government has said it could intervene in the market if it believes prices are too high. |
Commenting on today’s SSE price freeze, Stephen Murray, energy expert at MoneySuperMarket, said: “This is good news but customers shouldn’t be lulled into a false sense of security. Customers who are on a big six standard tariff are still paying £200 per year more than the cheapest tariffs on the market, many of which are fixed for one year or more. ” |
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