British Gas announces price hike after botched statement published online

British Gas has announced it is to hike its electricity tariffs by 12.5 per cent in September in a move affecting 3.1 million customers.
Centrica-owned British Gas said the price rise is its first since November 2013. Picture: PACentrica-owned British Gas said the price rise is its first since November 2013. Picture: PA
Centrica-owned British Gas said the price rise is its first since November 2013. Picture: PA

The Big Six energy giant confirmed the price rise, which will take effect on September 15, after a blunder on Monday saw the group mistakenly publish an incomplete statement about increasing electricity tariffs on its website.

Centrica-owned British Gas said the price rise is its first since November 2013 and the group pledged to help protect more than 200,000 vulnerable customers from the increase.

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Details of the increase comes as British Gas owner Centrica posted half-year results revealing that earnings from its consumer business plunged by more than a quarter after it lost 377,000 UK customer accounts in the first half.

Underlying operating profits from its UK home energy supply arm tumbled 26 per cent to £381 million as the group said it was also hit by warmer than normal temperatures and the pre-payment tariff cap.

Centrica’s overall underlying operating profits were 4 per cent lower at £816 million for the six months to June 30.

The group said it held off from the price rise a for ‘up to six months longer than some of our competitors’.

The price hike will mean an average dual fuel bill for a typical annual household tariff will rise by £76 to £1,120 – a 7.3 per cent increase, according to British Gas.

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