British Gas, has announced that it will be raising electricity prices by 12.5% as of 15 September 2017 (gas is so far, unaffected). It means that customers on a standard tariff will face an increase of £76 on the average annual dual fuel bill, bringing it to £1,120. It adds yet more financial pressure to cash-strapped households – and all just a few months before Christmas.
The rise will affect 3.1 million people, with British Gas putting the blame on transmission and distribution costs, as well as the cost of some government policies, such as renewables and the smart meter initiative.
It’s a blow to loyal British Gas customers, who had so far escaped the hike in energy prices It’s the first price rise by British Gas since November 2013 – but that’s unlikely to make customers feel any better. And because Sainsbury’s Energy is a white label British Gas brand, any of their customers may also be affected.
The other ‘big six’ suppliers have already subjected customers to bigger bills. EDF Energy , was the first of the major players to announce increases way back in December 2016, they were swiftly followed by Npower in February 2017.
British Gas, had previously said that it would freeze energy prices until August – a hint that customers could expect post summer increases, which has now come to fruition. However, Britain’s biggest energy supplier, has vowed to protect its most vulnerable customers eligible for the government’s Warm home discount scheme, by crediting them with the £76 increase.