It could become increasingly important for people to find a cheap electricity deal and switch energy providers in the coming years, as prices are unlikely to get cheaper.
This is according to chief executive of npower Volker Beckers, who told Sky News it is no longer possible for continually rising wholesale costs for commodities to be reversed.
Also speaking to the news provider's Jeff Randall Live show, chief executive of National Grid Steve Holliday added: "In any scenario, it is hard to imagine that the costs of our energy are going to be lower than they are today."
However, he explained the technology now exists to improve energy efficiency and reduce consumption of gas and electricity by 25 to 30 per cent.
It is therefore vital to refurbish the UK's housing stock in order to keep future energy costs under control, Mr Holliday observed.
Mr Volkers added action also needs to be taken to stimulate investment in renewable energy technology.
According to recent figures from the Department of Energy and Climate Change the average dual fuel customer saw their bills increase by £100 in 2011 for the same level of consumption as in the previous year.
If you want to find out more about switching energy suppliers and how you could save up to £389 in minutes, click here.
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