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British Gas to announce hike in its energy bills later this month
BRITISH GAS is poised to announce the rise of gas and electricity prices as early as this month, with families facing increased bills of up to 20 per cent.
Analysts expect its parent company Centrica to announce price increases of at least 15 per cent ahead of its half year results on 28 July to protect margins in the face of rising wholesale prices. Prices could go up even higher, however, in line with rival Scottish Power’s 19 per cent gas hike and 10 per cent electricity price rise last month.
Centrica’s rival blamed a 30 per cent rise in wholesale gas costs for the increases, and others are expected to follow suit.
Consumer groups have already slammed the widely expected industry-wide price hikes as unfair on the poorest households.