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Wholesale energy costs now ‘burn’ switching service of comparison website

The energy switching service of a leading comparison website has been frozen today.

Soaring energy prices seem to continue painting a grim picture for the British energy market’s future as they led Compare The Market to pause one of its most popular services.

Earlier this week, analysts predicted prices will further increase because of a fire at National Grid’s IFA interconnector. 

An estimated 60% increase in wholesale gas and electricity prices will mean that families will face a £280 increase in their energy bills.

A Compare The Market spokesperson said: “Due to unprecedented rises in wholesale energy costs, a number of energy companies have temporarily made their tariffs unavailable to people wishing to switch.

“At comparethemarket.com, our priority is to ensure that our customer can be confident that the product they purchase is going to meet their requirements. In order to protect our customers we have therefore decided to temporarily stop offering energy quotes via our website during this period of uncertainty.

“We will resume energy comparison as soon as we can be confident we can offer true comparison for customers.”

Energy Live Newshttps://www.energylivenews.com/
This article first appeared on ENERGY LIVE NEWS. Energy Live News (ELN) is a multi award winning independent publishing and events company. We are the UK’s leading dedicated daily news site covering energy. We make energy issues easy to understand and appeal to both the b2b sector and general consumer. We are independent, fair and outspoken in our coverage and we aim to be the place to come to for easy to understand energy news. We have won awards for our journalism. ELN also has an events arm which is also multi-award winning with industry leading conferences and awards. Our flagship conference is ENERGY LIVE EXPO, which is the must-attend event of the year and is regularly headlined by Energy Ministers and CEOs from across the sector. And our ENERGY LIVE CONSULTANCY AWARDS which won Best New Awards Event 2017, is now the gold standard accolade for UK energy broker market. Hit the web and social links below to visit Energy Live News across the web.
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