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24/06/2008
Energy Chiefs To Face Grilling From MP's
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The chiefs of the UK's six largest energy firms will face firm questions from MPs over the massive rise in household energy bills.
The Business Enterprise and Select Committee will probe Chief Executives from EDF, npower, E.ON, Scottish Power, Scottish & Southern Energy and British Gas.
The average dual fuel consumer is now paying almost £1,048, a rise of 15%, according to Energywatch.
This is almost double five years ago - and the fear is bills could go up by another 40% later this year as firms tackle rising costs.
British Gas parent Centrica gave a clear signal of the hikes to come in May when it said it would take the "necessary action" to deliver reasonable margins at its residential business.
In Europe, wholesale gas costs are linked to oil prices, which have surged to nearly $140 a barrel.
(CD/JM)
The Business Enterprise and Select Committee will probe Chief Executives from EDF, npower, E.ON, Scottish Power, Scottish & Southern Energy and British Gas.
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The average dual fuel consumer is now paying almost £1,048, a rise of 15%, according to Energywatch.
This is almost double five years ago - and the fear is bills could go up by another 40% later this year as firms tackle rising costs.
British Gas parent Centrica gave a clear signal of the hikes to come in May when it said it would take the "necessary action" to deliver reasonable margins at its residential business.
In Europe, wholesale gas costs are linked to oil prices, which have surged to nearly $140 a barrel.
(CD/JM)
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