British gas to raise bills by 12.5%

British gas to raise bills by 12.5%

The CEO of British Gas’s parent companny Centrica has blamed renewables for British Gas’s September 12.5% rise in energy bills.

The average annual bill will rise by 7.3%, £76 to £1120 for those on dual fuel standard tariffs.

The increase in cost will effect 3.1 million customers.

The parent company of British Gas, Centrica, announced its first half results which showed a 23% decline in adjusted operating profit. British Gas has also lost 387,000 domestic customers this year.

The Chief executive of Centrica Iain Conn cited increasing distribution costs as well as the costs of increasing use of renewable energy to the grid were to blame for the increase.

Speaking to the BBC this morning he said: “Government policy costs of making it lower carbon are actually also driving it (the increase in prices).”

UK energy prices are amongst some of the highest in the world and continue to rise.

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