Your energy bill could double in the next ten years

A lump of gas, found earlier yesterday

There's nothing like some old fashioned scaremongering to make you never want to leave your bed again. On Monday British Gas owner Centrica announced that further price rises are likely to be on the way, and that energy wholesale prices for winter 2011 are likely to be a quarter higher than those for winter 2010.

But those sort of increases are pennies compared to what's to come according to Welsh economist Professor Brian Morgan, who told Wales Online that there will be a "massive increase in energy prices" over the next ten years:

“These are not short-term supply side shocks. These are related to long-term issues to do with moving to more costly to produce energy, to do with efforts to tackle climate change.

"People should be factoring that in. We’re not talking about minor changes, perhaps energy prices increasing by over 100% over 10 years.”

So it's not going to happen tomorrow, but when energy companies start publicly talking about increases in costs of 25%, you've got to wonder what they're planning on announcing. Could the average family afford such bills? Is now the time to consider emigrating to Magaluf?

1 comment

  • Big G.
    If they push costs any higher, we'll go back to wood-burning stoves. One of my friends has done just this.

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