Yet another article telling you that your energy bills might be going up

9 May 2011

gas_flameBrilliant news! We The People are facing yet another round of energy price rises! Soon, we'll be attempting to keep warm by standing around lit cigarettes and lit piles of tyres.

And we can thank British Gas owner Centrica, who have said that the wholesale price of gas and power for delivery next winter is around 25% higher than last year. Of course, this will be passed to us in our bills.

The company, which has around 16 million energy accounts, said its results for 2011 were likely to be "materially influenced" by the recovery of higher wholesale prices and other costs.

They say, in what may well be the most interesting sentence in human history: "Market conditions for our residential energy supply business are significantly more challenging than in 2010."

They continued: "We continue to expect growth in our 2011 group earnings but at a more modest rate than anticipated at the time of our last results announcement as upstream profits have become more highly taxed."

Bad news for Centrica, but great news for us in the short term, is that we've had some lovely warm weather, which means that the average residential gas consumption in the first four months of the year was 19% lower than the same period a year earlier, with electricity usage down 4%.

However, this is a clear warning that prices are to be hiked up, despite the fact that the price of oil has fallen. Start raiding the copper jar folks.

TOPICS:   Utilities   Banking   Motoring


  • Darren
    Do Foxes make good fuel? People wear leather, wool, and such, so are foxes any good?
  • Darren
    Do Foxes make good fuel? People wear leather, wool, and such, so are foxes any good??
  • Darren
    Need to be able to delete duplicate comments. or the above happens..... oops.
  • Dick
    They are not duplicates. In the first you ue a single question mark, in the second you use two. You would have been warned that you "had already said that", which I guess is why you added another question mark to get around the duplicate filter.

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