British Gas bills may rise again
May 13, 2008 · Filed Under Your Money · Comments Off
Centrica, the owner of British Gas, has signalled that fuel bills could rise again as its profits are squeezed by higher gas and power prices.
Centrica said it would take “action to deliver reasonable margins”.
It warned it may have to take action after wholesale gas prices increased by 92% from a year earlier, and wholesale electricity costs doubled.
Centrica said its profits would be “materially lower” in the first half of 2008 despite British Gas price rises.
In January of this year, British Gas increased gas and electricity bills by an average of 15% in the face of rising wholesale prices.