September 5, 2008

All I seem to hear lately is that the cost of everything is…rising. A typical eye-watering example is the impending hike in electricity prices as reported in the Belfast Telegraph on 4.9.08: Electricity bills to rocket by 30%. Robin Morton reports:-

“Northern Ireland Electricity is poised to hit consumers with an increase of up to £160 a year, the Belfast Telegraph has learned.

Details of the new tariffs, which will take effect on October 1, are still being finalised in negotiations between NIE Energy, the Utility Regulator and the Consumer Council.

But it looks likely that the increase — to be announced next week — will be between 30% and 36%, and it’s all down to the soaring wholesale cost of gas.

At present, the average household bill stands at £439 a year, but the proposed increase could put this figure up to just under £600.

And in a depressing double whammy for over-stretched families, Phoenix Natural Gas is also set next week to announce a double digit increase, to also take effect on October 1.

In May, Phoenix increased its tariff by 28%, a move which sparked complaints from fuel poverty groups. And last month, Maxol Direct revealed that the price of home heating oil in Northern Ireland has risen by around 80% in the last year.”

Now.. wow…THAT is Read the rest of this entry »