British Gas to continue fleecing customersPosted by Alexander Hay
Utility costs to go up by a further 18%
At some point or another, people will say 'no more' and put an end to this profiteering. Of course, we're in Britain, so half the country will have to go bankrupt and the other half be forced to eat the family guinea pig before that happens. They do it, in other words, because they know full well that they can get away with it:
British Gas, owned by Centrica, is putting up its domestic gas and electricity prices from 18 August.
Gas bills will rise by an average of 18% and electricity bills by an average of 16%,.
The change will affect nine million households with the average dual fuel customer paying an extra £190 a year.
The company blamed the rising wholesale cost of gas, which has gone up by 30% since last winter.
British Gas managing director Phil Bentley said its bills were being driven higher by the fact that the company buys 50% of its gas on the international wholesale market.
"We are buying in a global energy market and have to pay the market rate," he said.
"Rising wholesale costs is an issue facing all energy suppliers," he added...
Incidentally, Centrica made £1.9 billion in pre-tax profits during 2010, up by 18% from 2009. It also controls 42% of the gas market. Coincidentally, Chief Executive Sam Laidlaw earned a grand total of £2,045,000 in the last fiscal year. The More You Know!
[SOURCE: BBC News]
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