British Gas has announced a major increase in its energy prices, following in the footsteps of rival supplier SSE, which recently confirmed it is raising its tariffs.
It was announced by the firm yesterday (October 17th) that its dual fuel bills will rise by more than nine per cent from next month, with the average household annual energy cost set to go up by more than £120 a year as a result.
Ian Peters, managing director of British Gas Residential Energy, stated that the company is aware of the frustration of members of the public who are not seeing their wages keep up with the rising cost of living.
"We haven't taken this decision lightly, but what is pushing up energy prices at the moment are costs that are not all directly under our control," he said.
Although the move to put bills up by British Gas was roundly condemned, the share price of its parent company Centrica is slightly up in the early stages of this morning's trading.
At 08:41 BST, its stocks were selling 0.07 per cent up on the start of the day.
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