Gas and electric price inflation 'huge' in UK
04 March 2010 17:01:03
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| Gas and electric prices have risen significantly since last January. |
The Organisation for Economic Co-operation and Development found that energy prices in the UK were 7.8% higher in January 2010 than 12 months earlier.
This compares with increases of 6.1% in France, just 1% in Germany and a decline of 0.9% in Italy, while the European Union average was found to be a 4% rise.
"With large profits posted by supermarkets and energy companies it would appear that some of them are taking advantage of their strong market position over their suppliers and customers," commented Liberal Democrat Treasury spokesman Vince Cable.
Mr Cable added that the UK energy price rises were much higher than in most European countries, even allowing for the impact of the weak pound and the recent VAT hike.
Many households have been hit with huge energy bills recently during the coldest winter since 1978-79, reinforcing the need to compare gas and electric suppliers' tariffs.
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