Profits for UK’s biggest six energy suppliers reach £3.3bn, bills still on the rise

Profits for the biggest six energy suppliers have reached an astounding £3.3 billion, whereas consumer bills have increased by more than £300 a year since 2010, a damning report from the Labour Party has recently revealed.

According to a media release on the matter, the total profits made by the big six energy companies recorded a huge 74 percent boost, from £2.219 billion in 2010 to £3.737 billion in 2012.

Unfortunately, over the same period, consumer bills also recorded quite a steep increase, the typical domestic dual fuel bill reaching £1,420 a year in 2012, compared to £1,105 in May 2010 (an average of around 29 per cent).

The report drafted by the Labour party lambasted the Government for its approach to energy regulation and forwarded a series of proposals designed to rectify this situation, including here the creation of a “tough” new energy watchdog which would replace Ofgem and force energy companies to pass on price cuts when wholesale costs fall.

Another proposal would require energy companies to pool the power they generate and to make it available to any retailer, opening up the market and making it more transparent.

Quite obviously, these are only proposals, but the truth of the matter is that people who actually want to start saving money on their energy bills should very seriously consider the implementation of an energy management system that enables them to do so, and this is exactly where HeatingSave can help.

The HeatingSave system allows home owners to cut energy bills by up to an impressive 30%+. It is built around the idea of optimizing the energy consumption levels within any area with the help of an advanced heat-loss algorithm that creates a specific profile for any building and based on that, switches heating on later if its warm and off earlier if its cold.

Additionally, the automatic occupancy detection allows the temperature to reduce to a background when areas are not used and quickly brought up to temperature when they are being used.

If you’d like to find out more information on the HeatingSave system and the way in which one can take advantage of it, just contact our dedicated team, they’ll be more than happy to answer all of the questions and queries you might have.