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Britain's gas price to see 35% record rise |
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10:15, July 31, 2008 |
Britain's largest household energy supplier announced on Wednesday that gas price is to rise by 35 percent along with 9 percent for electricity prices.
British Gas owner Centrica said the rises will take immediate effect citing "soaring wholesale energy prices." British Gas also announced a 69-percent loss in its profits during the first half of the year, the British Broadcasting Corporation (BBC) reported on Wednesday.
Earlier this month, a Centrica report warned about a possible 400-pound (some 623 U.S. dollars) rise in annual average gas bills in the early next decade.
The new price move takes place days after rival EDF Energy raised gas prices by 22 percent and electricity by 17 percent.
Observers believed the 35 percent hike was the biggest single rise so far in utility bills, which might spark inflation. There are now concerns already about drastic heating bills in the coming winter.
Source: Xinhua
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