‘Greenest Government Ever’ Is Driving Energy Bills To Record Levels
Britain’s biggest energy giant British Gas is planning to hit millions of customers with price increases of £100 or up to 8 per cent, taking household energy bills to record levels just as temperatures begin to fall.
A rival energy giant had a board meeting this week where price hikes were on the agenda. A jump of 8 per cent would push British Gas bills up to a record of almost £1,450, when paying by cash or cheque.
British Gas refused to comment today, insisting it “never comments on future pricing movements”. But experts have been predicting price increases for weeks.
But widely respected City analyst, Peter Atherton of Liberum said an 8 per cent rise sounded “about the right level” given the rising cost of environmental levies and transmission charges. Writing on Twitter he said: “5-6 per cent underlying cost increase due to ECO and T&D impacts.”
Sources in the industry had expected Scottish and Southern Energy or Npower would be the first to push up prices this winter. Last year, SSE was the first of the “Big Six” to act, announcing a price rise on August 22nd.