29 May 2008
Analysts have predicted that gas prices could rise even further after wholesale costs hit £1 a therm.
The independent energy consultant Nigel Cornwall has said that the biggest energy firms in the UK could be forced to hike up prices to fall in line with this, reports the Press and Journal.
He suggested that average energy costs for consumers may be raised over the £1,000 mark on a yearly basis.
"Prices collapsed back to 30p a therm in the middle of last year, but they have taken off now. We are talking price levels that are really quite horrendous," he told the paper.
And Gas Markets Analyst at Heren Energy Anusha De-Silva asserted that Britain is now in competition with Europe to attempt to get gas, because it imports the product.
It was reported this week that many consumers had been hit by energy blackouts after a number of power stations were shutdown.
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