British Gas – price freeze this winter

2nd December 2016 | Residential Energy

British Gas, Britain’s biggest energy supplier which is owned by Centrica, has announced a price freeze on its standard energy prices this winter. This will put more pressure on rival companies to do the same.

Wholesale gas and electricity prices in Britain have risen about 30 and 40 per cent respectively since June. This is along with other commodities and leads to speculation that electricity suppliers could raise prices.

British Gas, with around six million customers, said the price freeze would apply to its standard energy tariff. This will remain unchanged throughout this winter.

In addition, British Gas is also launching a produce which allows customers to fix their energy bills until March 2019. This move follows price freeze pledges made in November by rival firm Scottish & Southern (SSE) and independent supplier, Good Energy.

The price freeze also increases pressure on the remaining “Big Six” firms to do the same: Iderdrola’s Scottish Power, RWE’s Npower, Eon Energy and EDF Energy.

Energy bills have doubled in Britain over the past decade to an average of £1,200 a year per household. The Government has said it could intervene in the market if it believes prices are too high.

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