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Energylinx UK Energy Industry News Service

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July 08, 2011

British Gas has today announced an increase to its tariffs for domestic gas and electricity

British Gas has today begun notifying its customers it will raise domestic tariffs for gas by an average 18%, and for electricity by an average 16%, on 18 August 2011.

British Gas recognises the difficulties customers are facing in the current economic climate, but today's announcement follows steep rises in wholesale costs, which have increased 30% since last winter because of higher global demand for gas, driven by increased consumption in Asia and the impact on supply of unrest in the Middle East and North Africa.

Britain now imports almost 50% of the gas it needs from other countries around the world, and British Gas has to pay the market rate in the global wholesale energy market.

British Gas aims to offer competitive prices and protect customers from cost increases in the wholesale market as far as possible. But the company cannot continue to make a loss on the energy it sells, as it needs to be a profitable business in order to invest in future sources of energy for Britain. The company is investing around £1.5billion this year alone in securing new sources of energy for its customers.

Find out when this might impact on you by calling 0800 849 7077.

Posted by energylinx at July 8, 2011 10:58 AM Technorati: