Significant increases in gas and electricity prices are “very likely” in the coming period, energy minister Malcolm Wicks said. Mr Wicks put the blame for domestic energy price hikes on massive increases in the cost of oil, gas and coal on global markets. His comments came after reports that unnamed industry sources believe household energy bills could increase by as much as 40% this winter. Mr Wicks did not confirm the reported rises, which it is claimed could add £400 to a family’s bills. Asked if he recognised the figure, he said in an interview: “There are estimates and guesstimates and guesses. Let’s see what happens.” He added: “Yes, I’m worried about the scale of it. I can’t give you a figure because actually, with respect to all the experts, no-one knows. “Clearly, given the price of a barrel of oil and also the rising wholesale cost of coal and gas, it is very, very likely that we are going to see significant increases in the future. “This is a global issue. It’s affecting not just Britain but all countries and we have got to tackle it on a number of fronts.” Mr Wicks rejected claims that the UK was facing particular difficulties with energy bills. “Our prices for electricity are still lower than in many parts of Europe,” he said. “Over the last 12 years we have had lower costs compared with Europe, so the idea that there is something peculiar about Britain, frankly, is good polemic, but it is not evidence-based.”

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