Energy prices may soon fall

A recent report has suggested that energy prices in the UK could soon fall, having rocketed twice over the course of this year leaving many people in fuel poverty and many others in danger of falling into fuel poverty, where 10 percent or more of the total household income is being spent on paying energy bills.

Officials from Scottish and Southern Energy have said that if the wholesale prices of energy continues to fall then prices for consumers could also start to fall. Many industry officials and campaigners have been angered by the cost of energy usage in the UK remaining so high even after the cost of crude oil per barrel fell by close to 50% after peaking to record highs earlier in the summer.

Scottish and Southern officials said: “If wholesale prices for electricity and gas maintain a downward trend, Scottish and Southern Energy is optimistic that it will be able to deliver reduction in prices for domestic customers during the early part of 2009.”

A campaign official said: “The crippling price hikes that added an extra 42% or £381 onto the average household energy bills this year have yet to be played through into winter bills. Consumers need to be aware that the promise of a future price cut will not limit the impact of energy prices this winter, so they still need to take action now to protect themselves.”