Large and medium sized companies in the UK have paid more for their electricity this year than any other EU 15 nation, according to latest government figures.
Figures for a year earlier show medium sized firms in Germany and Italy were paying more, but that has since changed.
Data for the six months to June shows UK power prices including taxes rose 8.4% for medium sized companies. The average price rise across the rest of the EU 15 was 1.8%. Medium firms are now paying 11.25p/kWh including environmental taxes and levies, but excluding VAT.
Excluding taxes, prices for medium consumers were 60 per cent above the median price.
Large companies are also paying the highest prices in the EU15 – and of the 28 EU countries, only firms in Cyprus pay more.
Small companies are slightly less disadvantaged, though higher price rises than in other countries mean that only small firms in Ireland, Italy and Germany pay more for their power.
The data follows recent warnings from National Grid that volatility may affect energy prices this winter, while suppliers including Npower have warned that incoming price rises will also bite.
Energy price rises will bite this winter, warns Npower
Businesses will start to feel the full effect of energy price rises this winter, Npower has warned.
An N-Power spokesperson said the effect of rising non commodity costs – such as government policies to support low carbon power generation, or security of supply over winter – have been “masked” to date by benign wholesale prices. But that has changed.
He went on to say “there has never been a more pressing time to start reviewing how you buy, use and manage energy”.
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