ENERGY PRICES RISING THREE TIMES AS FAST AS WAGES

SNP MSP Jamie Hepburn today said the UK Government must act as he warned that more families will be pushed into fuel poverty.

Figures produced by the Scottish Government show annual household expenditure on gas and electricity in Scotland has increased by 24% over the last four years whilst average household income in Scotland has only risen by 9%.

The figures, which do not reflect the recent price hikes over the last 12 months, were released in a parliamentary answer to Jamie Hepburn and show that between 2003-04 and 2006-07

• • Average annual household expenditure on gas increased from £440 to £560 - an increase of 27%.
  • Electricity costs have increased over the same time frame from £530 per annum to £660 - an increase of 22%.
  • For households using both electricity and gas the combined figures show an increase of 24%
  • In contrast average household income increased by only 9% from £16,500 to £18,100.

Commenting on the figures SNP Central Scotland MSP Jamie Hepburn said;

“With the latest price rises due to hit households hard this winter these figures expose the shocking impact fuel costs have already had on household budgets across Scotland.

“Energy costs are increasing by 3 times as much as household income.

“Without real action on energy prices we will see more and more households pushed into fuel poverty as energy costs eat up household budgets.

“With higher heating and energy usage in Scotland we already have three times as many households in fuel poverty. Without real action by the UK Government this will only get worse.

“It is essential that we see steps taken by the UK Government to ensure social tariffs are the lowest tariffs, that pre-payment customers are no longer hit by rip-off charges and that the winter fuel payment is increased.

“The case for the energy companies to make a contribution to meeting the costs of fuel poverty and to supporting pensioners is compelling.

“These figures show that energy costs are unsustainable not just for the elderly or less well off but across the board.

“The SNP Government has taken strong steps to tackle fuel poverty with a record number of central heating installations last year, plans to extend benefits health checks to all those applying to the Warm Deal programme, and the re-establishment of the Fuel Poverty Forum – but the energy market and energy regulation is reserved. The UK Government must act.”

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Hikes raise concerns over fuel poverty

Average household British Gas bill will rise by £400 to more than £1,300 a year.

THE latest round of energy price hikes has piled further pressure on household budgets.

The average British Gas bill will rise by £400 to just over £1,300 a year after it increased gas and electricity prices by an average of 35 and 9 per cent respectively, following a similar move last week by EDF.

ScottishPower, Eon, Npower and Scottish & Southern Energy – set to follow suit in the next few days, households across the UK face steep fuel price increases.

For every 10 per cent increase, it's estimated that 400,000 more households fall into fuel poverty (defined as when more than 10 per cent of household income is spent on fuel bills).

Energywatch Scotland estimates that even before the latest rises, about 650,000 Scots households were below the fuel poverty line. But while alleviating the strain entirely is unrealistic, it's still possible for most households to ease the burden.

Regardless of price rises, customers can save money by switching to the best deal on the market. The average customer who has not previously switched supplier can save around £250 a year, claims Confused.com.

Switching is a simple and quick process. On most switching sites, you need to enter your postcode and various details of your present current gas and electricity bills to get a list of the tariffs available in your area.

The list will typically include price, savings, power ratings and the type of package (such as dual fuel or capped) and you can then apply online for the best deal.

With prices on a long-term upward trend, capped or fixed-rate deals offer protection from future increases. Nearly three million British Gas customers are unaffected by the latest rises, either because they are locked into fixed-rate deals or they are among the 340,000 customers considered vulnerable and, therefore, shielded from price hikes until 2009.

"While online tariffs still offer the market-leading deals, these products are variable and are at risk to further price hikes," said Scott Byrom, utilities manager at comparison website money supermarket.com. "For those less willing to gamble, a fixed tariff is by far the best option."

However, Byrom added that with prices rising and providers, including ScottishPower, taking attractive fixed-deals off the market, those on offer now may not be available for long.

Fixed-rate tariffs can be up to 15 per cent more expensive than variable tariffs, but with other suppliers likely to follow British Gas with hikes of up to 35 per cent, they represent a good deal.

Providers yet to announce price rises that still have fixed or capped rates on offer include Eon and ScottishPower, although these might disappear quickly, warned Andrew Hagger, communications manager at Moneynet.co.uk. "You will find that most energy suppliers will offer their lowest variable prices if you opt for a combination of online billing and dual fuel," Hagger added.

The latest increases from British Gas, described by energy helpline.com as the "biggest energy price rise in history", mean it has the most expensive standard tariff on the market, at £1,300 a year or £110 a month. But it still has the most competitive deal across the whole market, with the Click Energy 5 tariff. At £845 a year this saves households £40 a month compared with the standard rate.

But such savings are increasingly insufficient and the latest round of increases sparked calls for more help for vulnerable households. "It looks as if it's set to be a long, hard winter, and there is always the concern that the elderly will be scared to put their heating on, which could have serious consequences," said Hagger.

"The government needs to do something to reassure pensioners and review the level of winter-fuel payments in light of these astronomical price hikes."

VULNERABLE ARE UNABLE TO ACCESS THE BEST DEALS

One of the chief weapons against energy price hikes is switching to a better deal.

But this isn't always an option for households below the fuel poverty line – of which there are at least 650,000 in Scotland, according to Energywatch – as those with energy debts cannot switch.

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UK Personal Debt Statistics

Total UK personal debt at the end of June 2008 stood at £1,444bn. The growth rate increased to 7.4% for the previous 12 months which equates to an increase of ~ £98bn.

Total secured lending on homes at the end of June 2008 stood at £1,212bn. This has increased 7.5% in the last 12 months.

Total consumer credit lending to individuals in June 2008 was £232bn. This has increased 6.8% in the last 12 months.

Total lending in June 2008 grew by £4.0bn. Secured lending grew by £3.1bn in the month. Consumer credit lending grew by £0.9bn.

Average household debt in the UK is ~ £9,309 (excluding mortgages). This figure increases to £21,650 if the average is based on the number of households who actually have some form of unsecured loan.

Average household debt in the UK is ~ £58,000 (including mortgages).

Average owed by every UK adult is ~ £30,424 (including mortgages).

Average outstanding mortgage for the 11.8m households who currently have mortgages now stands at ~ £102,554.

Britain's interest repayments have soared to £94.4bn in the last 12months. The average interest paid by each household on their total debt is approximately £3,800 each year.

Average consumer borrowing via credit cards, motor and retail finance deals, overdrafts and unsecured personal loans has risen to £4,900 per average UK adult at the end of June 2008.

• Consumers will borrow an additional £268m today
• Consumers will pay £259m in interest today
• The average household debt will increase by over £10.75 today
• 2,370 Consumer County Court Judgements (CCJs) issued
• 424 mortgage possession claims will be issued and 302 mortgage possession orders will be made today
• 408 landlord possession claims will be issued and 312 landlord possession orders will be made today.
• 282 people today will be declared insolvent or bankrupt. KPMG estimate this will increase to 356 people a day by the end of 2008 which is equivalent to 1 person being declared insolvent or bankrupt every 4 minutes.
• 74 properties will be repossessed today. The Council of Mortgage lenders (CML) estimates this will increase to 123 a day during 2008.
• Approximately 18,000 credit card applications are being rejected every day.
• 4,000 fixed rate mortgages will come to an end today.
• Citizen Advice Bureaus will deal with 6,600 debt problems today
• The average car will cost £15.42 to run today
• £464m will be withdrawn from cash machines today.
• 20m transactions worth £1.0bn will be spent on credit, debit and charge cards today
• 1/3^rd of all groceries we buy today will end up in the dustbin.

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U.K. May Have to Open Antitrust Probe of Utilities, Panel Says

July 28 (Bloomberg) -- The U.K. government should consider pursuing an antitrust investigation in Britain's wholesale gas and electricity markets, as retail prices head ``significantly'' higher, a panel of lawmakers said.

The Business and Enterprise Committee in the House of Commons, which includes members of Parliament from the nation's three main political parties, concluded in a report today that the U.K. has higher natural gas prices than other European countries. The panel said this suggests a lack of competition, though it didn't find proof of price-fixing.

``Just because we have found no evidence of collusion does not mean we have given the Big 6 energy companies a clean bill of health,'' said Peter Luff, a lawmaker from the Conservative opposition who leads the committee. ``Far from it.''

The report reflects mounting pressure on politicians to tackle record energy prices as slowing economic growth and accelerating inflation squeeze household budgets. In the U.S., the Senate is debating a bill to curb energy-market speculation.

The U.K. lawmakers said Ofgem, the industry regulator, should have first crack at reining in the industry. If that doesn't curb prices, then the Competition Commission, an independent agency that can order companies broken up, should step in.

Any probe into wholesale gas prices would send a ``chill'' through the energy industry and lead to reduced investment, Richard Guerrant, a director of European operations for Exxon Mobil Corp., told the committee when he testified last month.

Committee Recommendations

The panel has no authority to enforce its recommendations, which the government and regulators are free to ignore. The government will respond to the report in the next few weeks.

Ogfem, the regulator, said in a statement in ``welcomed'' the committee report, saying it will contribute to its own ongoing investigation into a link between wholesale and retail energy pricing.

U.K. gas prices have risen more than fourfold to about 60 pence a therm from a low in April last year of 13.5 pence a therm. Gas for delivery this winter reached an all-time high of 105 pence a therm last month.

The report said producers' unwillingness to sell gas on forward markets, which let buyers and sellers lock in prices at delivery in the future, was pushing prices higher. It urged Ofgem to investigate the lack of price transparency in forward markets.

Rising Prices

The lawmakers' committee, which monitors the performance of the government on energy matters, said it expects gas and electricity bills to rise ``significantly'' in the near future.

Electricite de France SA's U.K. unit on July 25 raised electricity and natural gas bills for households because of rising wholesale costs. Power bills will be increased by 17 percent and gas charges by 22 percent from today, according to company spokesman Rajan Lakhani.

The lawmakers urged Ofgem to show a ``greater sense of urgency'' in its work and to ``look again'' at the way wholesale markets work in the U.K. The report said a competition inquiry should be avoided if possible.

``Our view is that changes can best be made through improving market design, by taking specific regulator steps and by continue to work for liberalization of European markets,'' Luff said. ``Such an approach is more likely to bring real and lasting investment the U.K. needs so urgently.''

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The Deposit Protection Service (The DPS) has revealed that people worry most about changing their billing address when they rent a new home.

A survey found that 36% of new tenants panicked over remembering to change their phone, gas and electricity bills to their new address.

A further 29% said they lost sleep worrying about packing and unpacking, while one in five revealed that the prospect of moving furniture gave them a headache.

Kevin Firth, Client Services Director at The DPS, warns that tenants must make time to talk to their landlord or agent: “Anyone who has ever moved home knows that it’s a stressful time – one tip to give tenants peace of mind is to ensure that their landlord has signed up to a tenancy deposit protection scheme.”

Tenancy deposit legislation, which was introduced last April, requires landlords to sign up to a scheme or risk a fine of up to three times the deposit amount.

The Deposit Protection Service, the only custodial scheme, protects the tenant’s deposit on behalf of the tenant and landlord, and returns the money to whoever is entitled to it at the end of the tenancy, with interest. Landlords and tenants have already been handed back more than £2.5 million in interest.

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Another major target achieved

Morning,
Off to Exeter with Gary Whittaker this morning and as always every one of you will have finished yesterday , reflected and admitted to yourself ' I am proud of what I achieved today I couldn't have done anymore!!!!!
Tuesday the 20th of May and the group has reached 18029. Wow fantastic and after just 6 years and 10 months its now really starting to motor.
Compare that to sixteen years in the Police and going nowhere fast.
It's your business guys. I am not unique. I believe in every single one of you and your team members.
What do I believe ? What excites me.
I believe ALL of you joined a business that if you work hard, smart and never moan , whinge or doubt yourself ! You can all give yourselves and your families a massive residual IMPACT on many lives.
Let's really get this monster motoring .
Have a terrific Tuesday and make the effort to get at least one guest to a Cop Tonight.
Regards
Jimmy Chapman.

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Now Is the Time To Join a Recession Proof Industry!

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British Gas bills may rise by 30%

British Gas will tomorrow warn householders that their annual gas bills may jump by as much as 30% next winter.

The huge rise, the result of soaring wholesale gas prices, would push the average household energy bill to more than £1,200 a year.

The company, which provides gas to nearly half the nation's homes, said it was being forced to put up prices because its retail gas business would otherwise plunge into the red.

Forecast wholesale prices for next winter put gas at 85p a therm compared with 47p last winter.

The coded warning of more increases in gas prices will come in a trading statement tomorrow, just five months after parent company Centrica reported annual profits of £1.9bn.

It will come as yet more unwelcome economic news for the Government, which is battling to fight inflation in the face of soaring domestic energy bills and petrol at £5 gallon.

The wholesale price of gas is rising because Britain is forced to import more rather than relying on North Sea supplies.

Last year the UK imported 27% of its gas needs, but this figure is expected to hit about 40% in 2008.

Centrica is considering buying a third share of a giant £2.5bn wind farm in the Thames Estuary.

Shell is selling its stake in the London Array project seven miles off the north Kent coast, which when completed will be the biggest wind farm in the world, with 300 turbines.

Sarwjit Sambhi, Centrica's director of power generation and renewables, said: 'We would certainly be interested in acquiring this stake.'

£10bn nuclear bidding battle

Spanish energy giant Iberdrola, owner of ScottishPower, and Suez of France will this week launch rival £10bn-plus bids for British Energy that are expected to top Friday's all-cash offer from EDF.

No details have been given of EDF's proposal for Britain's only nuclear power operator, but it is understood to be less than the 701p-a-share at which BE was trading at the end of the week.

Centrica, parent company of British Gas, had been attempting to muscle in on the EDF deal, but has been left out in the cold.

British Energy is refusing to comment on the EDF proposal and is likely to keep quiet until it has received detailed offers from other energy companies. A final decision is not expected until June.

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Gas bills to rise by more than £400 this year

Household gas bills could rise by more than £400 this year, as British Gas today signalled another price increase of 20 per cent.

The rise - likely within a matter of weeks - will take average domestic gas and electricity bills above £1,200 after a 15 per cent price rise in January.

Consumer group uSwitch believes households may need to prepare for price rises of as much as 46 per cent for the year as a whole.

"Including the 15 per cent rise in January, the worst case suggests bills could rise by as much as £415 in one year," said uSwitch director Tim Wolfenden.

"We believe there could be a bunch of rises by the end of the year. We foresee increases in August and September, but then a real killer additional rise at the end of the year."

British Gas's parent company Centrica left customers and shareholders at its annual meeting in London today in little doubt they should be braced for far larger bills.

The company said the global oil price, which has soared to $125 a barrel, has also seen the price of gas rocket. British Gas says the amount it has to pay for gas to supply UK households means it can no longer make the profit its City shareholders demand.

"We will take necessary action to deliver reasonable margins in the retail business," Centrica chairman Roger Carr was due to tell the meeting.

The wholesale price of gas has been rising throughout the spring, and the outlook is not getting better.

Forward prices are nearly double what they were last year, with suppliers having to pay up to 85p a therm next winter compared with 48p in the winter just gone.

Asked when a price rise might come, a British Gas spokesman said: "That depends on what happens to the oil price, which has been highly volatile." The spokesman refused to be drawn on how much British prices might have to go up.

However, Mark Todd, director at price comparison website energyhelpline.com, said: "With this announcement, the UK's biggest energy supplier is telling consumers very clearly that massive price rises are coming their way."

Jenny Saunders, chief executive of fuel poverty charity National Energy Action, said a 30 per cent price increase could force 1.2 million UK households into fuel poverty and "completely reverse progress made in this area over the past 10 years".

She added: "Low-income families with children, the elderly and vulnerable households will be hit hardest, but a growing amount of households will be feeling the pinch."

British Gas, which has some 17million domestic customers, effectively sets the benchmark on prices for the entire UK industry.

The Daily Mail Cost of Living Index has reported at 19.1 per cent increase in the price of a shopping basket of food and drink essentials.

Government estimates indicate that for every one per cent increase in fuel bills, another 40,000 households is plunged into fuel poverty - spending more than 10 per cent of disposable income on heat and light.

A 46 per cent increase in a year would suggest an extra 1.84million homes would be classed as fuel poor. This group face a nightmare choice between heating and eating.

North Sea gas supplies are declining rapidly and the Britain is becoming more reliant on expensive imports from the Continent via pipeline.

Gas prices in Europe are - for historic reasons - tied to changes in the price of crude oil, which has soared above 126 dollars a barrel in recent days.

There are concerns that prices are also being forced up because European power giants are actively rationing or blocking supplies to the UK.

Centrica said that, on average, month-ahead prices for gas and power were up 92 per cent and 100 per cent respectively from the same period last year.

Shares in Centrica, which have underperformed the FTSE 100 index by almost 22 percent in the past 12 months, were down 1.6 percent at 283 pence in early trading.

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