Renewable Energy News

British Gas owner Centrica says it is raising gas prices by a record 35% and electricity prices by 9%.

The UK's biggest domestic energy supplier said that the price hikes would take place with immediate effect, it blamed "soaring wholesale energy prices".

Biggest Single Increase

Watchdog Energywatch said it believed the 35% gas bill rise was the biggest single increase in the price of a utility seen to date.

A report prepared for Centrica earlier this month warned that annual average gas bills could rise from £600 to more than £1,000 early in the next decade.
Centrica said that wholesale gas prices in the coming winter would be up 89% on the previous winter.

Diminishing Gas Reserves

It added that the UK was suffering from diminishing gas reserves, and estimated that the UK would import 40% of its gas this year compared with 27% last year.

Source: BBC

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