The news that Scottish Power is to bring in a double digit increase in domestic gas and electricity prices in August has naturally concerned households whose budgets are already stretched. (See stories in the Guardian and City A.M.)
It is no wonder that consumer anger is rising as domestic fuel prices have seen some large increases in recent years – up 30% in 2006 and another 40% two years later, with subsequent price falls much more modest.
Overlay from Timetric
But the real impact on households is seen in the cumulative price increase. The chart below shows domestic energy prices have risen by 75% since 2005 compared to around 20% for the CPI in aggregate. Continue reading →