Consumers warned to switch tariffs as British Gas hikes prices

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Consumers warned to switch tariffs as British Gas hikes prices

Thu 31st Jul 2008

Energy customers have been warned to switch to capped tariffs to prevent further fuel rises after British Gas announced more price increases.

British Gas, owned by Centrica, announced yesterday that it is raising its gas prices by 35 per cent and electricity by 9.4 per cent.

Website moneysupermarket.com noted that while online tariffs are "market leading deals", they are susceptible to rises and added that fixed deals are "by far the best option" for people not wishing to gamble.

Finance website MoneyExpert.com said the increases were "not unexpected" but "still enormous" and said more and more people could switch providers to try to get the cheapest tariff.

Phil Bentley, British Gas managing director, said the company regretted it but added: "The simple fact though, is that we have entered an era of unprecedented high world energy prices."

Children's charity The Child Action Poverty Group said the hikes "risk hitting the poorest families hardest".

Today Centrica revealed a 20 per cent drop in profits for the first six months of 2008 to £992 million, according to the Times.

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