29th July 2008
UK businesses will face a trying time as energy bills continue to rise, MPs have warned.
The Business and Enterprise Select Committee fears thousands of jobs in manufacturing could go as a result of energy prices that are high compared to those in the rest of Europe.
It called for action to address problems in the energy sector, following the announcement at the start of the year of large price rises by the "big six" of British Gas, EDF Energy, E.ON, Npower, Scottish Power and Scottish and Southern Energy.
However, the committee found no evidence of the companies working together to artificially keep prices high, despite the limited price difference across the suppliers.
The report, published just days after EDF Energy became the first supplier to announce its summer price hikes, also warns that millions of households will face severe consequences.
Federation of Small Businesses energy and environment chairman John Holbrow said a further blow to small businesses will come when regulator Energywatch closes its doors from October 1 this year.
He said: "Small business owners are very similar to small domestic consumers in terms of energy consumption patterns and expertise but often fall foul of complex bill formats, infrequent meter readings, incorrect billing, poor customer service and lack of information on switching suppliers.
"It is alarming that with increased prices there will be nowhere for small businesses to turn."
Businesses to feel the burn as energy prices soar
The Business and Enterprise Select Committee fears thousands of jobs in manufacturing could go as a result of energy prices that are high compared to those in the rest of Europe.
It called for action to address problems in the energy sector, following the announcement at the start of the year of large price rises by the "big six" of British Gas, EDF Energy, E.ON, Npower, Scottish Power and Scottish and Southern Energy.
However, the committee found no evidence of the companies working together to artificially keep prices high, despite the limited price difference across the suppliers.
The report, published just days after EDF Energy became the first supplier to announce its summer price hikes, also warns that millions of households will face severe consequences.
Federation of Small Businesses energy and environment chairman John Holbrow said a further blow to small businesses will come when regulator Energywatch closes its doors from October 1 this year.
He said: "Small business owners are very similar to small domestic consumers in terms of energy consumption patterns and expertise but often fall foul of complex bill formats, infrequent meter readings, incorrect billing, poor customer service and lack of information on switching suppliers.
"It is alarming that with increased prices there will be nowhere for small businesses to turn."
Tags: Office
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