Compare What You're Paying For Gas - New House Owners Face A Unique Problem

The world is reeling under the impact of the economic slowdown and energy prices have been going up consistently

. It has placed great strain on the management of monthly expenses for every household and people are always on the look out for ways to mitigate the additional burden they have to bear on account of these soaring energy prices.

However there is a new problem, staring people in the face, when moving into new homes. The housing market has had its own share of problems, with banks tightening liquidity and making it difficult for people to get loans. For the lucky few who have managed to purchase a new house, either through their own funds or through mortgage, this problem is something of a rude shock after going through enough trouble to finally land a home they can call their own.

The problem relates to the amount they will have to pay independent gas delivery agencies. For the uninitiated, these are the guys who lay the pipes for the gas energy to reach your house and as per the latest findings, the costs of paying them for laying such pipes has now shifted to the prospective house owner, while lessening the burden on the property firm which developed the property. This would automatically increase the financial burden on the already stressed house owner and severely impact on the ability to make timely payments of utility and mortgages.

Studies indicate that more than fifty per cent of the folks moving into their new residences are blissfully unaware of this additional cost that an independent gas transporter has brought to their doorstep. Close to ninety seven per cent of the house owners studied, admitted that they were never informed about this liability at the time of making the decision on whether to take the property on rent or buy, leaving them now with the unsavory prospect of having to make this additional payment over an extended period of time.

The bad news is not over yet. More than half of the major gas suppliers are at the moment over charging their clients who are receiving the gas through the IGT pipes. These charges are hidden and are levied in the form of either a higher unit rate or an annual charge. At a time when the consumer is already grappling with high-energy prices, they have now been further exposed to a double burden through no fault of their own - first in the form of the payment that is made to the IGT and second in the payment that is made to the energy supplier. It would therefore pay a consumer to shop around and compare gas prices.

Findings also reveal that more than half of the consumers are unaware of the gas network that they are using, and come to know of it, only when they decide to switch the service provider. In effect, the house owner is subsidising the developer by paying the IGT and does not get any benefit by way of reduced rents or house prices from the developer. It has also led to the rather odd situation of consumers living next door to each other but paying different rates for gas, simply because of this anomaly in the energy prices.

by: Tom Jones

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