UK Money News
22nd July 2008
British Gas 'could hike prices by end of month'
British Gas customers have been warned to expect a price hike far earlier than has been suggested.
Earlier this week, energy comparison site Xelector1 predicted that the rocketing price of oil will push up utility bills by between 15 per cent and 20 per cent by September.
However, according to Fool.co.uk the price rises could happen as early as this month, depending on how British Gas has performed in the last quarter.
A statement from the site read: It hinges on whether Centrica, which owns British Gas, can appease shareholders when it reports first-half results on July 31st.
"When British Gas increases prices, others are likely to follow."
David Kuo, head of personal finance at Fool.co.uk, said that homeowners looking to inure themselves against the hikes should opt for the security of a capped-rate tariff.
He advised: "Capped-rate deals may not be the cheapest tariffs on the market, but they will look a bargain in a few months' time."
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