Latest up date on Power Utility Companies:
Originally posted by 5corpio

British Gas, owned by Centrica, is putting up its domestic gas and electricity bills from 18 August. Its gas bills will rise by an average of 18% and electricity bills by an average of 16%. The company blamed the rise in the increasing wholesale price of gas, which it said had gone up by 30% since last year.

In June, Scottish Power announced it would raise the cost of gas by 19% and the cost of electricity by 10%. British Gas Managing Director, Phil Bentley, said: "We are buying in a global energy market and have to pay the market rate."

"Rising wholesale costs is an issue facing all energy suppliers," he added.
Centrica had already warned that it was likely to raise prices this year. In May, the company said its customers were not paying enough to reflect the increased cost of gas on the..........Read more on this story: CLICK HERE