May 10, 2005
Centrica, parent to British Gas, announced yesterday at their AGM that gas prices may have to be increased again. Sir Roy Gardner, Chief Executive, announced that whilst their financial performance was good in the first quarter of 2005 that looking forward they still see further volatility in the gas curve.
Gardner believes that wholesale prices are running some 25% higher than at the time of their earlier 2004 results announcement. As a result, his view is that an appropriate retail price increase may yet have to be taken during 2005 to protect their gross margin.
Energylinx has updated the analysis of British Gas residential results originally carried out in December 2004, when interim results for British Gas were available to June 2004.
May 6, 2005
Transco has published its indicative charges for gas distribution networks.
Under the terms of Transco's Gas Transporter licence they must provide OFGEM with notice of any proposal to alter their charges at least 150 days before the proposed implementation date.
Worst effected by this proposed change will be gas consumers served by the London Distribution Network where the increase is proposed at 11.5%.
The is followed closely by the North Distribution Network where the increase is proposed at 8.5%.