30 March 2005
Gas and electricity bills in the UK will rise due to the overbearing lack of EU competition, the Energy Intensive Users Group has said.
A report from the group suggests UK businesses alone are forced to pay an extra £700 million due to inaccessibility to Continental supplies with residential bills possibly following a similar path in the not too distant future.
Jeremy Nicholson, the lobbying group's director-general, explained the situation to the Evening Standard yesterday.
"British business is at a huge disadvantage compared with competitors on the Continent," Mr Nicholson stated.
"We are being forced to pay far higher prices for gas and electricity compared with our competitors."
Currently, foreign supplies are of utmost importance to the UK as North Sea production and prices oppositely degenerate.
However, the European Continental market is still largely controlled by a number of national supply monopolies.
Find the cheapest gas and electricity suppliers and save up to £170 a year at uSwitch.com.