Millions of families face soaring gas and electricity bills this winter as energy giants prepare to boost profits



Rising bills: Households could find themselves paying more for heating their homes over the winter months

Households across the UK could see their gas and electricity bills soar this winter as energy companies prepare to boost profits from households, it has been reported.



Firms are set to increase profits from households from £45 to £65 - a jump of almost 50 per cent, according to the Daily Telegraph.



Britain's second largest energy company SSE has already confirmed that the price of a typical dual fuel bill will rise by nine per cent from mid-October, up from £1,172 to £1,274 a year.



The increase will affect as many as five million households.



British Gas - one of the 'big six' energy companies - has told 10 million households that their bills could go up by as much as £100 next year.

Earlier this month Scottish Power and First Utility also pulled their cheapest fixed rate deals.

The removal of these tariffs has left consumers with a dwindling range of options that offer both the peace of mind of a fixed price coupled with no exit penalties.



Experts have warned the average annual energy bill could rise by £118 to a record £1,428 next year, the Daily Telegraph reports.



Mark Todd, a director at Energyhelpline.com told the paper: 'From what we are hearing in the industry, price rises are already being worked out.

The Bank of England dashed hopes that bills would fall earlier this month, predicting instead that gas and electricity bills could rise by an average of 2.5 per cent ‘around the turn of the year’.

Tom Lyon, energy expert at uSwitch.com, warned as the cheapest rates started to disappear: ‘Consumers who want to fix their energy prices cannot afford to hang around – these deals are flying off the shelves and could be pulled at any time.

Warning: Other energy giants, including British Gas, could follow any rivals' price increases with its own hike

Pledge: Labour leader Ed Miliband

‘People have quickly grasped that paying a low price today, coupled with a price guarantee and no exit penalties makes fixing your prices a real "no brainer".



‘It gives absolute peace of mind coupled with flexibility, vital for consumers as we head into what could well be a winter of price hikes.’

Labour leader Ed Miliband will pledge today to crackdown on profiteering energy companies.



They will be forced to pass on wholesale price cuts to customers by an incoming Labour government, Mr Miliband will tell a gathering of voters in Manchester.

He intends to axe the regulator Ofgem and introduce a new watchdog to order energy giants to reduce their prices.

He is quoted in the Daily Telegraph: 'The current system of regulation is not working. We'll rip it up to stop you getting ripped off.

'We will make sure that when the big companies pay less for the power they buy, you pay less for the energy you buy.'

Mr Miliband will tell voters: 'You know what it’s like when the envelope hits the doormat with the gas bill or the electricity bill.



'The companies know you can’t choose not to pay it. They are making us pay more than we should.'