Britain enduring much higher price rises from energy suppliers - 04/02/2009
New figures have revealed that Britain has endured higher price rises from energy suppliers than nearly all of the world's 30 richest nations.
Data from the Organisation for Economic Co-operation and Development (OECD) shows that prices in Britain have risen by an average of over 12 per cent over the past year, with only Turkey experiencing a higher increase.
With France, Ireland and Germany all experiencing price reductions, industry commentators are likely to renew suggestions that Britain's European-owned energy suppliers are ripping off UK customers.
Garry Felgate, chief executive of the Energy Retail Association, said that the data did not reflect the full story: "The latest OECD's figures don't show the actual level of prices, just the change over the last 12 months."
Mr Felgate added that British consumers still pay the lowest gas prices in Europe.
Major energy supplier British Gas recently announced it will be implementing a ten per cent gas price cut from mid-February, while customers could switch energy supplier in a bid to chase cheap energy prices.
All the UK's major energy suppliers blamed high wholesale costs for last year's price rises.
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