Centrica Price increase?

Deepak.craig

Hi All

"The wholesale cost of gas has gone up about 30% since the start of the year, so it looks like about an 18-20% price rise is coming from British Gas on gas, and I expect electricity will go up just below 10%".:eek::eek::eek::eek::eek::eek:


Is this true? I read this article in BBC....

Sorry, Im unable to paste the URL here, as iam a new user.......

BargainGalore

http://www.bbc.co.uk/news/business-13939826

jhp

They have been dropping hints about it for a while.

See:

http://www.thisismoney.co.uk/money/markets/article-1722495/Centrica-hints-at-hikes-in-gas-and-power-bills.html

and

http://www.telegraph.co.uk/finance/newsbysector/energy/8570493/Centrica-chairman-warns-steep-energy-price-increases-are-inevitable.html


Hence MSE advice here: http://www.moneysavingexpert.com/utilities/you-switch-gas-electricity

kar999

Not really new news. It's just in the headlines today as Centrica made one of it's a normal announcements to the stockmarket.

Centrica Investor Day/Pre-Close Trading Statement reports that it continues to trade in line with the guidance provided in the IMS on 9 May 2011. Group earnings in H1 are expected to be lower than in 2010 but for the full year are expected to show year on year growth, subject to the usual variables of retail margins and the weather.

Here's the bbc link I think... EDIT: Posters above beat me to it as i was typing!!!

http://www.bbc.co.uk/news/business-13939826

Centrica, which owns British Gas, has hinted again that it will raise prices for its gas and electricity customers.
In a statement to the stock market, it told investors to expect lower profits for the first half of 2011, partly due to higher wholesale costs.
However, the firm said "retail margin recovery" would boost its profits in the second half of the year.

billsavings

British Gas Centrica Price Increase Annoucement might be this coming Friday .

Martin MSE posted this on Twitter earlier today.

"Big British Gas price rise imminent! Been told it said "within 2 weeks" at Cons. Focus conference. Its usually on Friday's so 3 days to go?"



2 hours agovia TweetDeck

http://twitter.com/#!/MartinSLewis/status/85734134739243008

ihateyes

billsavings wrote: »

British Gas Centrica Price Increase Annoucement might be this coming Friday .

Martin MSE posted this on Twitter earlier today.

"Big British Gas price rise imminent! Been told it said "within 2 weeks" at Cons. Focus conference. Its usually on Friday's so 3 days to go?"



2 hours agovia TweetDeck

http://twitter.com/#!/MartinSLewis/status/85734134739243008

I think this friday..... 30days notice means new prices would start begining of August

kar999

I'm suprised other companies have waited so long after Scottish Power's notification. Maybe they all held back and grabbed as many SP customers who were flooding the market desperate to move.