EDF Follow Suit with Gas Bill Rises
February 16, 2006 at 11:28 am
EDF Energy which includes London Energy, Seeboard and SWEB are the next power company to raise their prices, by 15%.
5 million customers will be affected, having to pay an extra £1.32 on their gas bill per week and 30p on their electricity bill from March. Customers on capped or fixed tariffs should not be affected.
These continued increases in energy costs raise worries of fuel poverty as poorer customers can simply not afford to have their heating on.
Gas Prices to Rise 25%!
February 6, 2006 at 11:33 am
It has been revealed that customers could see the biggest increase to their gas bills ever, with a huge 25% rise. It is expected that British Gas will announce this by the end of the month.
Centrica state that they have no choice as wholesale prices are up 75% on last year. However some people may see this ‘compulsory’ price rise out of line with Centrica’s £1.5 billion profits last year.
This news brings worries of large energy bills for everyone but there is greatest worry for vulnerable customers such as the elderly who will simply not be able to afford to keep warm.
Energywatch feel that British Gas are likely to lose customers after this announcement as they did with their last large price hike but other energy companies will surely follow suit though and both gas and electricity will be affected.
Russian Takeover for British Gas?
February 2, 2006 at 11:34 am
News of a takeover of Britian’s largest gas distributor, Centrica by Russian gas giant Gazprom has emerged. No decision has been made yet but the takeover is said to be in consideration and has resulted in a rise in Centrica share prices and stock market value.
Gazprom, controlled by Russian government is already the World’s biggest gas producer, providing over 25% of EU gas requirements at present. The company plans to expand further, hoping to take 20% of the UK gas market over the next 10 years.
Centrica will not comment on market speculation and says that it has not yet received a takeover approach from Gazprom.
