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British Gas owner Centrica warns of higher energy bills

Category: Scotland

Published: 11th May 2012 07:38:21

Centrica, the owner of British Gas, has said that despite its recent cut in electricity prices, rising wholesale gas costs will make supplying energy to UK households more expensive this year.

It said gas costs would be 15% higher next winter, while other costs would add another £50 to the cost of supplying energy to the average home.

"The trend for retail energy costs therefore remains upwards," it said.

In January, British Gas announced a 5% cut in its standard electricity tariff.

Centrica said it remained on track to grow profits by 10% or more at its residential business, largely due to controlling costs.

It said average household gas consumption for the four months to April was up 1% on a year earlier, while electricity consumption was down 3%.

Earlier this year, Centrica reported flat profits following a "tough" 2011, which included a 30% fall in operating profits at British Gas to £522m.

Source:
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BBC News, 2012. British Gas owner Centrica warns of higher energy bills [Online] (Updated 11th May 2012)
Available at: http://www.ukwirednews.com/news/1427872/British-Gas-owner-Centrica-warns-of-higher-energy-bills [Accessed 30th Aug 2014]

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