A new proposal by the European Union could lead to a decrease in gas and electricity prices. The European Union wants to split up the energy giants to increase competition within the industry and give the customers more choice. Certain countries have opposed the breaking up of multi-national companies such as E.ON, RWE, EDF and Gaz de France.
The cost of electricity bills has increased over the past few years but this proposal is an attempt to bring the costs down. Britain and Sweden are leading a group of countries that are backing the proposal to separate the major players in the market and governmental officials have backed the idea which strengthens their argument.
This is obviously good news for customers as this will enable more competition, and more competition means cheaper prices as companies compete for customer's business. This is, however, bad news for the leading energy providers who have seen a drop in profits already. E.ON, the world’s largest utilities company saw profits miss projected targets. They blame the loss on increasing purchase prices of gas and electricity.
It is unknown whether the proposal will be passed or not, an 8 country opposition lead by France and Germany have tried to propose another way of increasing competition but it is unclear as to their plans. Britain and Sweden are amongst a group of countries trying to push the proposal through.
We all want to be able to find cheap electricity and gas prices and if this new proposal comes to fruition, we may get what we all want. However, as we wait and see whether it gets approved or not, shop online and get the best deals around by comparing the leading providers.
A new proposal aims to bring the price of utilities down and as the price of our electricity bills have increased recently; this could not be better news. Find cheap electricity and gas prices online and compare the leading providers.
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