British Gas to hike electricity prices by 12.5% from September

British Gas to hike energy prices by whopping 12.5

The owner of British Gas has taken a financial beating within its legacy energy divisions leading to a profit crash of nearing one billion pounds, as it nears the end of a major strategy shift.

Confirmation of the decision comes after a blunder on Monday saw the group mistakenly publish an incomplete statement about increasing electricity tariffs on its website.

He said: "This is British Gas' catch-up price hike".

"We're actually proposing that the Government are even bolder and instead of capping standard variable tariff, they should reform it so that it's removed altogether so that contracts that don't have any end are actually phased out and that the level playing field is created so that all suppliers pay the Government's costs", Mr Conn said. As these costs increase, large firms argue, that creates a market distortion. "British Gas increase will cripple me". Customers using a pre-payment meter will also not be affected.

It was titled "Why we've had to raise electricity prices - our first increase since November 2013.' However, the body of the text read only 'blah blah", suggesting the upload was an error.

"It is transmission and distribution of electricity to the home and government policy costs that are driving our price increase", said Centrica chief executive Iain Conn on BBC's Today Programme.

Have other energy companies raised prices recently?

British Gas is the last of the "big six" energy firms to increase prices.

Russia Orders US to Reduce Diplomatic Staff
Moscow has already responded, ordering a reduction in the number of U.S. diplomats in Russian Federation and closing the U.S. Embassy in Moscow, with a monument to Russian revolutionary workers in the foreground Friday, July 28, 2017.

NASA launches new app to allow people to share Solar Eclipse experience
As the moon crosses between the earth and sun, the sun will appear to change shape as it will be partially blocked from our view. The eclipse, when the moon will completely cover the sun, will stretch from Lincoln Beach, Ore., to Charleston, S.C.

Taliban group intensifies activities in Afghanistan northern regions
The incident took place near Taliban hideout in Kunduz province of Afghanistan on Sunday morning, Police said. It wasn't immediately clear if they had been kidnapped or had escaped.

The cost of smart metering presents more of a problem because Ofgem excludes that from its costs to suppliers.

Centrica also cited the regulator Ofgem's latest supplier cost index, which showed that from May 2016 to May 2017, costs of providing dual fuel for energy suppliers had risen by 15%.

Anti-poverty campaigners have long warned that high energy prices force the poorest to choose between essentials, sometimes resulting in ill-health or death.

The British Gas owner updated investors on its half-year performance in a separate statement, announcing that its adjusted earnings had dropped 11 percent to £449 million in the first half of the year.

We are calling for a long overdue United Kingdom wide response to stop tragic winter deaths; we want a joint ministerial summit on health and fuel poverty with representatives from across the devolved governments.

He added: 'A British Gas price rise is completely unjustifiable. There must be no British Gas price rise. And if you're on the fence about whether to find a new provider after the British Gas news, his advice is unequivocal.

'If the Government acted to bring in the price cap it promised this behaviour would stop'.

Related News:



Most liked

Samsung launches 1.2Gbps LTE modem
Of course, if you're in the USA , you'll still most likely be getting the Qualcomm versions of Samsung's handsets, but that's OK. To get such speeds, mobile operators allow the chips to grab multiple LTE frequencies, like 800Mhz and 1.8GHz, and combine them.

Apple Chops Several VPN Apps Not Compliant with New Chinese Law
Several VPN companies knocked the move, saying Apple may not fully realize what it has done by removing these apps. Overseas services have also been increasingly targeted as the country moves to tighten control on the internet.

Two militants killed in encounter in Kashmir's Pulwama district
Security forces have cleared the area and a counter-operation is now underway. "The operation is on", said the police. Internet services remained suspended in Pulwama district following the killings, KMS reported.

Samajwadi Party MLCs resigns from party
The Opposition leaders seemed to be in a total state of confusion following the sudden exodus of their legislators and leaders. Shivpal Yadav reached Delhi on Saturday and is expected to hold parlyes with his elder brother Mulayam Singh Yadav .

Knife-wielding man attacks people at store in Hamburg, Germany
They said on Twitter that they don't have information on the assailant's motive or on the exact number of victims. Hamburg police confirmed that at least one person had been killed and several other people were injured.

Do e-cigarettes help tobacco smokers quit?
To assess e-cigarette use and associated changes in population smoking cessation in the U.S., researchers analyzed data from U.S. While the sale of e-cigarettes is banned in Australia, U.K provides a license to e-cigarettes as a smoking cessation aid.

First Human Embryos Edited in US
Scientists wanted to show that they can eradicate or correct genes that cause inherited disease, like thalassemia. Successfully altering genes in embryos could theoretically allow scientists to cures diseases, including cancer.

Bill to repeal Obamacare fails in Senate
Rand Paul (R-Ky.) heads to the Senate floor for a vote on health care legislation, on Capitol Hill in Washington , July 26, 2017 . Senators will now continue debate on a health care bill that could leave most of the Obamacare provisions intact.

United States girl arrested after livestreaming deadly vehicle crash
Seja spoke to CBS 47 on Tuesday about the crash and her friend Jacqueline. "I know I'm going to jail for life alright". Sanchez faces a maximum sentence of 13 years and 8 months in state prison if she is convicted.

A billion people use WhatsApp daily
Soon enough, the memes will be right: You'll have a "Stories" feature on your calculator , microwave, and every other device. A Twitter user has even posted a screenshot of the alleged recall feature on the WhatsApp Web version number 0.2.5370.

Senate committee subpoenas former Trump campaign chief Paul Manafort
Manafort could be excused from the hearing by agreeing to the "production of documents and a transcribed interview", they said. Manafort's legal team had offered to provide a transcript of Tuesday's interview with the Senate Judiciary Committee.

Six Congress legislators suspended for creating ruckus in Parliament
The party's leader in the Lok Saha, Malikarjun Kharge said this morning, "Without any reason six of our MPs have been suspended". As Opposition parties continued with the protest, Mahajan appeared exasperated and emotional.

Charlie Gard Hospital Says Staff Have Received Death Threats
They have been subjected to abuse online, in the street and in the hospital itself, said Great Ormond Street chief Mary MacLeod. The hospital believes that 11-month-old Charlie has suffered irreversible brain damage that treatment can not fix .

Fire near Yosemite has destroyed 58 homes, displaced thousands
A Selma firefighter was thrown from a pumper after the apparatus hit a tree stump during the Detwiler Fire in Northern California. No injuries were reported as of Tuesday night, according to Cal Fire .

Ben Affleck Addresses Rumors He's Leaving Batman Role
The film, titled The Batman , doesn't have a release date yet, but Reeves is already seeing the big picture. I am the luckiest guy in the world. "I'm so thrilled to do it".