British Gas, one of the “big six” energy companies, expects to announce a price rise within weeks, it has emerged.

At the Energy Select Committee today Ian Peters, chief operating officer said:"Unless there is a fundamental shift in the way the commodity market re going to play out in the next few weeks then on the balance of probability, we will reluctantly put the price up. I'm not going to get drawn into precisely when or how."

Fears of price rises have increased in recent weeks following confirmation from the regulator, Ofgem, that wholesale energy prices had risen by 30pc since December.

One supplier, Scottish Power, has already announced a price rise, with gas and electricity going up by 19pc and 10pc respectively. This may encourage other suppliers to follow suit.

Audrey Gallacher, head of energy at Consumer Focus, the statutory consumer champion, warned: “Suppliers like the comfort of the pack and, because of that, price rises often come in waves.”

Read more on this story: British Gas to increase prices - Telegraph

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