Britons switching energy already enjoying best European rates - 12/06/2009
Many homeowners in Britain may be choosing to switch gas and electricity suppliers but they are already paying some of the lowest rates in Europe, a report claims.
Figures from Austrian energy regulator E-Control have revealed that London residents pay half the amount faced by people living in Copenhagen in Denmark, making the English capital the tenth cheapest in Europe, reports the Sun.
Energy companies introduced a series of price rises throughout last year, blaming increases in the wholesale market, but all have lowered their prices since the end of winter.
An unnamed industry insider told the paper: "This just shows how good the UK has been at harvesting its own resources."
The government recently initiated nuclear redevelopment in the UK, but faces potential problems within the next few years when several older power stations are due to be decommissioned.
Industry experts have recently warned that Britain lacks adequate gas storage facilities, making the UK more reliant on imported supplies.
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