Centrica, which owns British Gas, has announced today (01/08) it will increase electricity prices by 12.5% from Friday 15th September.
The price rise will affect 3.1 million customers – the average annual dual-fuel bill for a typical household on a standard tariff will rise by £76 to £1,120.
Mark Hodges, Chief Executive, Centrica Consumer, said: “We held off increasing prices for many months longer than most suppliers in order to protect our customers from rising costs, so it is a difficult decision to have to announce an increase in electricity prices. This rise reflects an underlying increase in policy and transmission costs.
“We know that keeping energy prices as low as possible is vital, and our new standard tariff price has again been set at a level lower than most of the top ten suppliers. We are able to do this because we have managed our own cost base tightly.
“We are fully engaged in the debate over how to ensure the energy market works better for customers and have made a number of proposals to the Government and Ofgem.
These include phasing out the standard variable tariff and levelling the playing field so all suppliers pay a share of energy policy obligations. We also welcome and share Ofgem’s focus on vulnerable customers.
That is why we have decided to give a special credit this winter to the most vulnerable British Gas customers, protecting them from the impact of this price increase.
We are continuing our drive to engage with all our customers to ensure they are on the right tariff for them, and to reward their loyalty.”
British Gas customers wanting to fix their energy price can do so until August 2019 on a specially discounted deal, Home Energy Secure, which will cost £1107 per year.
Any customer concerned about their bill should contact us on 0800 048 0404 or visit www.britishgas.co.uk.
