British Gas - Price rise to be announced later this month?
| Related: | Personal Finance•Utilities•Electricity•British Gas |
Britsh Gas are expected to release their latest price rises before their parent company Centric are due to release their results later on this month.
Prices are expected to rise between 15-17% based on the increase of 16% to their wholesale pricing structure.
British Gas have a history of never being the first to increase prices and always being the first to actually reduce pricing when the market allows it... so now is the time for BG customers to either fix up with BG or look at one of the other 4 that are yet to increase their prices...
Energy providers profit margins are reported to be at their lowest level for two years, but are they low enough for the consumers?
Responses (3)
I'm a bit dubious about the low profit margins - they never reduce bills by the same amount as wholesale prices go down, and always charge more than the amount by which they go up.
Of course, we mustn't forget that the government charges us 5% VAT on our bills and charge utility companies something like 19% in green and fuel taxes. The high costs aren't just the fault of the greedy bosses.
Well, they announced it today, gas prices to increase by an average 18% and electricity 16% from 18 August affecting 9 million households who are with British Gas.
Another crook shows its face rip off merchants all of them.
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