LONDON (AFP) — Gas and electricity prices in Britain have climbed twice as fast as the European Union average, according to new figures released on Wednesday.
Data released by the Organisation for Economic Co-operation and Development (OECD) showed a 29.7 percent rise in utility prices in the past year, compared to EU's 15 percent increase.
The OECD statistics showed that German customers experienced a 12.2 percent price hike while their French counterparts saw their energy bills shoot up by 14 percent.
Consumer Focus chief executive Ed Mayo said Britain should take the cue from other countries in trying to keep prices down.
"The UK has a relatively free market, but the freedom to cut prices in the early years now seems to be the freedom to raise prices with impunity," he told the BBC.
"Of course, those least able to afford it suffer most. The suppliers must offer their most vulnerable customers social tariffs and reduce prices generally at the earliest opportunity," he added.
The latest figures from regulator Ofgem indicate that gas bills in the country are the cheapest in Europe, and electricity bills are at similar levels to the rest of the continent.
But the statistics fails to note the price rises which have taken place so far this year.
"What the OECD's figures fail to demonstrate is that British customers have enjoyed historically very low prices compared to Europe and indeed the rest of the world," said a spokesman for the Energy Retail Association.
"Primarily, this is due to us having our own vast reserves of natural gas in the North Sea and not being exposed to global prices in the same way as we are now. We are no longer an energy island. With increased demand from growing economies such as India and China, the prices we now pay for our energy are more vulnerable to fluctuations across the world," he added.
Copyright © 2010 AFP. All rights reserved. More »
