British Gas hikes electricity prices by 12.5%

Experts fear rise will prompt another round of increases from rivals after Centrica sanctions average annual dual fuel bill rise of 7.3% to £1,120 British Gas has raised electricity prices by 12.5% in a move consumer experts warned could kick off a new round of price rises from rival suppliers this winter. The company, owned by Centrica, left gas prices unchanged, which means the average annual dual fuel bill will rise by 7.3%, or £76, to £1,120. The increase, which takes effect on 15 September, will affect 3.1m customers. The company said it will give a £76 credit to more than 200,000 vulnerable customers to protect them from the increase. Continue reading...