It pays to be negative over utilities outlook

While the old advice about looking on the bright side of life may indeed be heart-lifting and even helpful at times, when it comes to looking to the future as far as energy prices go, a deep-seated sense of pessimism is the best bet.

Of course, with Centrica having just this week announced that it is due to put British Gas prices up by 35 per cent over the coming weeks, it's highly unlikely that there are any consumers left who still have a rosy outlook in this respect.

However, it's also fair to say that there are many households across the UK that still fail to grasp the potential price hikes that may still come in the utilities sector.

Indeed, by only putting up gas and electricity prices up by an average of a fifth since March, some suppliers have largely been sheltering their customers from the true extent of the changes seen in the world fuel markets over the same period.

Ongoing troubles in the Niger Delta region and diplomatic unrest in the resource-rich Russian fields have helped to push wholesale prices through the roof over the past few months, with some observers pointing to possible 60 per cent increases before the winter sets in, with suppliers likely to want to pass some of this on to already hard-up consumers.

Just recently, a report published by the Norwegian energy consultancy Eclipse and commissioned by Centrica, concluded that, as the UK is forced to increasingly rely upon imports from European and Asian gas markets, household bills will also soar by 60 per cent, meaning that the average home will soon be facing an annual utilities bill in excess of £1000.

However, even though the future of the oil market looks pretty firmly established now, this doesn't mean that consumers should just sit back and prepare for the worst.

In fact, there has never been a more important time to shop around for the best utilities deals as suppliers compete among themselves to sign up customers.

Rebecca Atkinson, news editor of the website, Moneywise.co.uk, explained: "All customers will probably be hit in one way or another because bills are going up across the board.

"It's important that people realise prices are likely to continue to go up, so they should consider getting a capped or fixed deal now. These deals may not always be the cheapest but if you think ahead and think about where prices are going in the future, then it may work out cheaper down the line."

Being proactive, before the winter cold sets in, is crucial to staying one step ahead of rising prices.

As well as switching to the most competitive supplier, it may be a good idea to invest in home insulation or even paying an energy efficiency specialist to point out future savings.

From a pessimistic point of view, such short-term investment could well lead to substantial savings over the long-run.