Energy costs on the rise warns moneyextra.com

August 7th, 2007

Save your money by shopping around for your gas and electricity and help save the planet by offsetting your carbon emissions

Despite price cuts in the first six months, energy costs look certain to rise again this year. The oil price rose by 20 per cent in June and July and has been flirting with record highs at the height of summer.

Some analysts are talking about $100 a barrel by the end of the year as demand rises in the winter months. That doesn't just mean more expensive petrol on the forecourts - it means more expensive utility bills as well, both electricity and gas.

British Gas has already warned it won't be making any further price cuts, after two reductions since March. In the energy markets, wholesale gas prices for this winter are already close to all-time highs.

Switching utility suppliers is an easy way to save money on your gas and electricity bills. All you are doing is changing the administration side of things. Moneyextra has teamed up with Xelector to provide website users with an Energywatch approved energy comparison service.

Robin Amlôt of Moneyextra.com said, "There's been a lot of hot air in the press about British Gas and its profits. But the simple fact is that our fuel bills are likely to be going up over the next six months.

"With higher mortgage costs as well, thanks to rising interest rates, it's more important than ever that households keep an eye on their spending, making sure they're getting the best value for money in gas and electricity."

"We're also offering our users the ability to offset their carbon emissions. There's more to be done than just switching gas and electricity suppliers so you are using renewable or green energy," says Robin Amlôt.

"Moneyextra users can offset any remaining CO2 by buying carbon credits or certificates from companies who offset on our behalf."

 

For further information, please contact:

Robin Amlôt
Senior Editor, Moneyextra
Tel: 0870 191 5626
public.relations@moneyextra.com

Notes to editors

Moneyextra's utilities switching service
http://www.moneyextra.com/addedservices/gas-and-electric.html

Moneyextra's carbon offset service
http://www.moneyextra.com/addedservices/offset-your-carbon-emissions.html

Moneyextra.com regularly wins awards - in 2007

• Finalist Customer Focus, National Business Awards Wales/West Country Region
• Finalist Growth Strategy, National Business Awards Wales/West Country Region
• Money Marketing IFA of the Year 2007 - won as part of AWD Group

Moneyextra.com is one of the UK's longest-established personal finance websites. It has 536,000 unique users and delivers 5.5 million page views every month and has 513,000 registered users.

As at 25th June 2007, Moneyextra.com featured:

• More than 10,000 Mortgages from 126 providers
• 205 Personal Loans from 55 providers
• 211 Credit Cards from 63 providers
• 1,505 Stocks & Shares ISAs from 58 providers
• 173 Cash ISAs from 91 providers
• 123 Current accounts from 36 providers
• 876 Deposit accounts from 149 providers