Development News Edition
Give Feedback
FIFA 2018

5.5 percent rise in energy price by British Gas

On Tuesday, the parent company, Centrica, said that the price of its standard tariff for electricity and gas would be increased by 5.5 percent from May 29.


Devdiscourse News Desk 10 Apr 2018, 01:54 PM United Kingdom
  • This will affect 4.1 million customers and will add an extra 60 pounds to their annual bills on the current standard variable tariff (SVT). (Image credit: Geograph)

On Tuesday, the parent company, Centrica, said that the price of its standard tariff for electricity and gas would be increased by 5.5 percent from May 29.

This will affect 4.1 million customers and will add an extra 60 pounds to their annual bills on the current Standard Variable Tariff (SVT) and it would then become 1,161 pounds, as per the company.

The new customer will not be getting SVTs and the company, British Gas, has withdrawn its SVT default tariff for new customers on 31 March. The company is working towards changing their consumer tariff off from SVTs.

According to Centrica, this increase has happened largely due to rising wholesale and policy costs. Similar pressures were cited by Ofgem when they increased the prepayment meter cap by just over 57 pounds on 1st April.

The energy market regulator Ofgem has said earlier, in February, that the customers of British Gas would see the increase in their bill by an average of 57 pounds from April 1. These are the customers that have been covered by the cap are typically on the prepayment meters.

The Energy Minister Claire Perry has said via an email statement that the ministry is disappointed by British Gas's announcement of an unjustified price rise in its default tariff when customers are already paying more than they need to.

Mark Hodges, Chief Executive of Centrica's Consumer business has justified the price rise by saying that the increase we are announcing today is reflective of the costs we are seeing which are beyond our control.

add banner

LEAVE COMMENT

Web
                Analytics Made Easy - StatCounter