UK Money News
20th June 2008
British Gas customers facing price hike
British Gas customers could be facing a price hike in the near future, a trading statement from the company has warned.
Earlier this year, the energy giant's parent company Centrica said that if the current outlook for gas prices does not improve it "will take the necessary action to deliver reasonable margins in the retail business".
A statement released yesterday revealed that it felt that conditions have not improved in the wholesale energy market, which has sparked speculation that customers will soon be hit with higher tariffs.
The announcement comes after energy experts have predicted that gas and electricity bills could rise by as much as 40 per cent by the end of the year.
A hike of this size would bring the cost of the average household's gas and electricity bill up from £1,048 to £1,467 per year.
Nils Blythe, a business correspondent at BBC Online, predicts that rises will most probably be imposed in August - since customers are less concerned with heating costs during this month than at other times of the year.
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