Energy bills to rise because of Libya and Japan turmoil

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The leap in prices follows the ongoing political crisis in the Middle East and a surge in demand in Japan, when nuclear plants were shut down after the earthquake last month.

Consumer groups said that the “Big Six” energy firms were rushing to pass on the rise in wholesale fuel costs to households.

New price hikes could be added to consumers’ bills by the start of the summer, some experts say.

The price of wholesale gas has jumped by a third in the past two months, while wholesale electricity prices have risen by 40 per cent in the last year.

http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/8424821/Energy-bills-to-rise-because-of-Libya-and-Japan-turmoil.html

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