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Record Gas Prices Hike 35 per cent by British Gas

Centrica PLC, owner of British Gas has announced it will raise prices for domestic gas by 35% and for electricity by 9% with immediate effect. The UK's biggest domestic energy supplier blamed "soaring wholesale energy prices", but added that standard tariff prices would not rise again in 2008. Simultaneously Centrica has revealed a 20% drop in profits (to £992 million) in the first six months of 2008, from £1.23bn a year earlier, with the firm blaming higher wholesale gas prices. EDF Energy has raised the cost of heating and cooking gas by 22% and electricity by 17% earlier this week. It is expected other energy companies will follow suit shortly.According to British Gas, which has 15.9 million customers in the UK, the average dual fuel bill would go up by 25%. This will take the average dual fuel bill to £1,240. Energywatch, the industry watchdog, said that the 35% increase to heating gas is the biggest single increase in the price of utility to date.Britis ...
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Double Digit Rises for Heating and Electricity-EDF

EDF, the French owned utility company has announced that cost of heating and electricity will go up, leading the last round of energy price increases. EDF has raised prices of gas by 22 per cent and of electricity by 17%. This increase translates to around £200 per annum for a dual fuel bill. At the moment an average dual fuel bill of an EDF customer stands on £1,211.With around 5.5 million customers in the UK, around 3.25 million (59%) customers on standard and variable rates will be affected by the latest rises. It is expected that other utility companies will follow suit soon. According to consumer groups, fuel prices could rise by up to 40% this year, bringing the cost of a typical households energy bill to £1,467.Centrica, owner of British Gas, has commissioned a report recently that has predicted that gas bills themselves could spiral to more than £1,000 per annum by year 2010. Wholesale energy prices which increased by around 70% since the beginning of th ...
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