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30/07/2008
Energy Firm Reports Massive Profits
British Gas has announced that soaring wholesale energy prices have forced it to increase tariffs for domestic gas and electricity, despite its parent group Centrica reporting a massive £992 million profit to 30 June.
Although it is a 19% drop on last year, British Gas is blaming wholesale gas prices increasing by 89% on the previous winter. Wholesale electricity prices have also increased by 72% over the same period.
British Gas Managing Director, Phil Bentley, said: "We very much regret that we have had to make this decision at a time when many household budgets are already under pressure. The simple fact though, is that we have entered an era of unprecedented high world energy prices. The only answer to cope with higher energy prices, I'm afraid, is for all of us to be more energy efficient and we will be contacting all our British Gas customers to show how they can save energy to try and offset these price rises."
The retail price increases, averaging 25% or 72p per day for a dual fuel customer, will come in with immediate effect.
Commenting on the results Chief Executive of Centrica, Simon Laidlaw said: "We produced a good set of results in tough market conditions and against a record first half in 2007. Through the rest of 2008 and beyond we will continue to concentrate on improving customer service in British Gas, driving inefficiencies out of our entire business, moving in a disciplined manner towards a greater level of vertical integration and pursuing value-adding growth opportunities in all of our businesses."
(CD/JM)
Although it is a 19% drop on last year, British Gas is blaming wholesale gas prices increasing by 89% on the previous winter. Wholesale electricity prices have also increased by 72% over the same period.
British Gas Managing Director, Phil Bentley, said: "We very much regret that we have had to make this decision at a time when many household budgets are already under pressure. The simple fact though, is that we have entered an era of unprecedented high world energy prices. The only answer to cope with higher energy prices, I'm afraid, is for all of us to be more energy efficient and we will be contacting all our British Gas customers to show how they can save energy to try and offset these price rises."
The retail price increases, averaging 25% or 72p per day for a dual fuel customer, will come in with immediate effect.
Commenting on the results Chief Executive of Centrica, Simon Laidlaw said: "We produced a good set of results in tough market conditions and against a record first half in 2007. Through the rest of 2008 and beyond we will continue to concentrate on improving customer service in British Gas, driving inefficiencies out of our entire business, moving in a disciplined manner towards a greater level of vertical integration and pursuing value-adding growth opportunities in all of our businesses."
(CD/JM)
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31 July 2008
Centrica Posts £1 Million In Profits - To Consumers Anger
British Gas owner Centrica has posted half-year profits of almost £1 billion - much to the anger of consumer groups. Centrica maintain that it has been "absolutely necessary" to raise household gas prices as profits were down 20% in the first six months of this year to £992 million - down from £1.23 billion in 2007.
Centrica Posts £1 Million In Profits - To Consumers Anger
British Gas owner Centrica has posted half-year profits of almost £1 billion - much to the anger of consumer groups. Centrica maintain that it has been "absolutely necessary" to raise household gas prices as profits were down 20% in the first six months of this year to £992 million - down from £1.23 billion in 2007.
24 June 2005
Gas prices could rise again
British Gas has warned customers that gas prices could be increased again. Centrica, which owns British Gas, said that the price rises were being introduced because of expectations of an increase in wholesale prices. The price rises would follow a 12.4% increase in September last year and a further rise of 5.9% in January.
Gas prices could rise again
British Gas has warned customers that gas prices could be increased again. Centrica, which owns British Gas, said that the price rises were being introduced because of expectations of an increase in wholesale prices. The price rises would follow a 12.4% increase in September last year and a further rise of 5.9% in January.
08 July 2011
British Gas Set To Raise Energy Prices
British Gas has today begun notifying its customers it will raise domestic tariffs for gas by an average 18%, and for electricity by an average 16%1, on 18 August 2011.
British Gas Set To Raise Energy Prices
British Gas has today begun notifying its customers it will raise domestic tariffs for gas by an average 18%, and for electricity by an average 16%1, on 18 August 2011.
26 August 2014
200 Homes Still Without Gas After Water Leak
Around 200 homes in Wales are still without gas after a burst water pipe flooded gas lines last Thursday. Wales and West Utilities have said that some 150,000 litres of water has been pumped from gas pipes since last Thursday, with 540 of the 755 homes affected by the leak, now reconnected.
200 Homes Still Without Gas After Water Leak
Around 200 homes in Wales are still without gas after a burst water pipe flooded gas lines last Thursday. Wales and West Utilities have said that some 150,000 litres of water has been pumped from gas pipes since last Thursday, with 540 of the 755 homes affected by the leak, now reconnected.
13 January 2011
British Gas Invests For Vulnerable Customers
British Gas have announced that it is making a new investment of £37 million in support for its vulnerable customers. Each customer on British Gas' Essentials social tariff will receive £50 as a credit on their winter bill. Prepayment customers will receive the credit direct to their meter.
British Gas Invests For Vulnerable Customers
British Gas have announced that it is making a new investment of £37 million in support for its vulnerable customers. Each customer on British Gas' Essentials social tariff will receive £50 as a credit on their winter bill. Prepayment customers will receive the credit direct to their meter.
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Northern Ireland WeatherThis Evening and Tonight:It will be cloudy. Also mainly dry at first this evening but then occasional outbreaks of rain developing overnight. Light southwest winds, and staying mild. Minimum temperature 9 °C.
