In amongst the price comparison sites, I chanced upon examples of longterm deals available - you can fix a price up to around 2017 - but you will start off paying a significantly higher rate. Understandably.
Anyway the point is it glibly said that the future prices over the period, and based on past experience, are predicated on whatever happens, prices rising at around 10% per annum. Now, that is bad enough - except
a) price competition was supposed to keep prices in check - yet if the price comparison people (who should know) are keeping accurate records, then across the board, all the suppliers are consistently averaging 10% pa price rises, each year, every year.
b) the 10% is not just on this years prices but on last years increase. The cumulative effect is that for every £1000 annual bill in Year 1, it rises to £2357 at Year 10. And this is in a so-called low inflation era. At that rate, after another 10 years it is £6115
Of course before long we will also be getting our annual hikes for council tax, water and all the rest.
At the same time, the Tories have more or less achieved wage deflation, significantly so if inflation is factored in.
If this continued then pretty soon nobody will have anything whatsoever left of their wage.
