British Gas blames regulation for 9pc hike in energy bills October 17, 2013 THE UK’S energy debate was ignited again yesterday, after British Gas said it would be raising customers’ bills by 9.2 per cent from 23 November – adding £104 on to the average annual dual fuel bill – and blamed the government’s green initiatives for almost half of the increase. Centrica, which owns the big six [...]
The real reason why energy prices are spiralling out of control October 17, 2013 LIKE most readers, I have had my run-ins with energy companies. One especially pushy door to door salesperson once tried to forcefully convince me that I needed to sign up to his firm because I had just moved into a new home. Fortunately, I wasn’t naïve enough to succumb to his lies but many others [...]
Subsidy fears as UK inks nuclear deal with China October 17, 2013 THE COALITION’S nuclear plans gained further momentum yesterday, after chancellor George Osborne said Chinese companies are allowed to buy a stake in British nuclear power plants. But it is thought that any deals will include indirect price subsidies that could trickle down to taxpayers over the 35-year life of the plant. Osborne made the announcement [...]
“Ask British Gas” descends into chaos October 17, 2013 After announcing a price hike this morning, British Gas have opted to host a Twitter Q&A session about the 9.2 per cent bill rise. It's shaping up to be one of the social media mistakes of the year. We're here with Customer Services Director, Bert Pijls, who will be answering your questions until 2pm. Tweet [...]
British Gas announce 9.2 per cent price rise October 17, 2013 Centrica owned British Gas has announced a 9.2 per cent price rise fro this November. That follows a recent increase by competitor SSE, of 8.2 per cent (release). British Gas electricity prices will rise by 10.4 per cent, and gas prices by 8.4 per cent from 23 November. Today’s announcement, which will add about £2 [...]
Ofwat to reject Thames Water’s price rise plans October 16, 2013 INDUSTRY regulator Ofwat yesterday said it plans to block Thames Water’s request to raise customer bills by eight per cent next year, on the grounds that it is unjustified. The watchdog has published a draft decision to reject the proposal – which would add an extra £29 on to the annual average household bill – [...]
New scary book by Terrifying Tim October 16, 2013 THE GLOBAL financial system is mired in unsustainable debt but it is the ever rising cost of energy in particular that we should be worrying about, according to Tim “Terrifying” Morgan. The former chief economist at Tullett Prebon, whose theories have also earned him the nickname “Dr Doom”, has published a book called Life After [...]
Germany’s renewable energy race pushes prices up and dampens growth October 15, 2013 Germany's surcharge for green energy will go up by almost a fifth next year – to 6.24 euro cents (5.3p) per kilowatt hour (kWh) – say network operators, as first reported by Reuters. The monthly surcharge, levied on consumers via their electricity bills to finance renewable power subsidies, rose by almost two cents (or 47 [...]
Energy pricing puts SSE at risk of a downgrade October 14, 2013 ENERGY firm SSE’s plans to hike prices could put it at risk of a debt rating downgrade, analysts have warned. The supplier angered consumer groups last week when it said it would raise its bills by 8.2 per cent from next month, adding £104 on to the average annual bill. SSE blamed the majority of [...]
Politicisation of energy market spells trouble for SSE says JP Morgan October 14, 2013 JP Morgan has warned that the politicisation of the UK energy market could lead credit ratings agencies to downgrade energy firm SSE. The recent announcement that the company would raise prices by 8.2 per cent, adding £104 to the average annual bill, led to a series of condemnations by senior Labour politicians. SSE asserted that [...]