British Gas is the latest supplier to announce a double digit price rise in response to increasing wholesale costs.
The increase comes after weeks of hints from British Gas, and speculation among experts in the industry.
Scottish Power was the first of the Big 6 to make a move in June, adding around £175 to the bills of its 2.4 million customers. Scottish Power will increase their gas prices by an average of 19% and electricity by an average of 10%, effective 1st August 2011.
Lisa Greenfield, energy analyst says “Struggling households will be dismayed by this news, and as British Gas is the largest supplier in the UK, many families will be hit hard. We suggest consumers opt for a fixed tariff as they offer price security against from future hikes. Paying by direct debit and managing your account online will also be a cheaper option. The best deals are sure to be pulled soon so we urge consumers to act quickly. Today’s news means that significant price rises for all customers are inevitable as other suppliers follow where British Gas leads.”
Source : Confused.com
