British Gas is adding £44 to the typical fuel bill for 3.5 million customers in the second increase this year.
Britain’s biggest energy supplier blamed rising wholesale energy prices for the 3.8% rise in its standard variable tariff. It is the company’s second bill increase in 2018, less than four months following a 5.5% rise announced on 10 April.
From 1 October a typical dual fuel customer will pay £1,205 a year – £104 more than before the first increase took effect on 29 May.
British Gas’s owner, Centrica, said in July it was considering a further price increase after wholesale prices rose and competitors put up their rates. Announcing the second increase, Centrica said the cost of buying energy in the wholesale market had risen by 20% since April.
Mark Hodges, the chief executive of Centrica’s consumer business, said: “We have today reluctantly announced plans for an increase in our standard variable tariff. We understand that any price increase adds extra pressure on customers’ household bills. However, this reflects the sharp rise in wholesale energy costs.”
For more read the full of article at The Guardian
