Energy bills to rise twice as fast as expected
Energy bills are expected to rise twice as fast as expected due to inefficient appliances and products in homes. A new report has shown that despite the claim that bills would rise by £64 over the rest of the decade, bills are now expected to increase by a further £63.
Ministers claimed last year that energy bills would rise by £64 over the rest of the decade – from £1,267 in 2013 to £1,331 in 2020. It said that the costs of green subsidies would be partially offset by consumers using less energy as they trade in old fridges, TVs and lights for new efficient models.
But new analysis by centre-Left think tank IPPR for campaign group Global Action Plan finds that fuel bills are likely to increase by a further £63, because consumers will buy fewer efficient products than expected.
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