July 27, 2006
British Gas today announced a change to its domestic gas and electricity prices. The change is set against a backdrop of further cost increases in the wholesale energy market and a record £143 million loss by British Gas' residential energy business in the first half-year of 2006. This follows a loss of £75 million in the second half of 2005.
Despite hopes that the energy market might stabilise, the continued high cost of energy has led British Gas to increase its residential gas prices by 12.4 per cent and electricity prices by 9.4 per cent with effect from 4 September 2006. Over the period between winter 2002/3 and this next winter the wholesale cost of gas has risen by 266%; it is up 71% in the last 12 months alone. The company, therefore, has no alternative but to increase prices.
July 24, 2006
With effect from 31st July 2006 EDF Energy has announced it is to increase its domestic gas and electricity prices.
The average increase for is 15.67% for a standard domestic consumer paying by monthly direct debit and using 20,500 kWhs of gas and 3,300 kWhs of electricity.
This latest increase in domestic energy prices follows the majority of domestic energy suppliers who have seen a second price increase already during 2006.
Derek Lickorish, CEO of EDF Energy Customers Branch said, We have been absorbing some of the costs of increased wholesale prices in the hope they would ease. However, prices have remained high with little prospect for reduction in the foreseeable future. Reluctantly we now have to pass on a proportion of the resulting costs to customers. We recognise the impact this can have, especially on customers with low incomes and have therefore tried hard to find ways to help them.
Energylinx have added these new prices to their calculators so that you can examine the impact on your personal circumstances.
Energylinx has also produced the following table that identifies the impact on a typical domestic customer.