Gas bill rises to boost Centrica

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The Independent Online

Centrica predicted its profits would beat City expectations of £2.2bn this year, just days after it said it was putting up prices for British Gas customers.

Earlier this month, Centrica-owned British Gas said it would raise bills by 7 per cent on 10 December, blaming a 25 per cent increase in wholesale gas prices.

But energy analysts have questioned the price rises announced by Centrica and by its rival SSE. "There are no obvious reasons why energy companies should be raising retail prices this winter... prices have risen from the lows that we saw back in March, but they still remain well below historic levels for this time of the year," said Andrew Horstead at Utilyx.