How does the British Gas price rise affect me?

Posted: 3 August 2017 4:09 pm
News

british gas price rise

See how the 12.5% increase could impact your bills.

You may have seen the news this week that British Gas owner Centrica has announced a big hike in prices within the next few weeks. But how much more will consumers actually pay? The team at finder.com/uk have put together this guide to explain the impact it will have on the 3.1 million British Gas customers out there.

How much more will I pay?

Gas prices remain the same. It’s electricity that you need to pay attention to. The cost of electricity will rise by 12.5% from 15 September 2017. The average British Gas household will be paying an extra £76 as a result, though this will vary from property to property. This is around a 7.3% increase in the size of your bill.

From 15 September, the average British Gas dual fuel bill will reach £1,120. This is huge considering the cheapest tariffs on the market come in at around £900 or less.

Why have British Gas hiked prices?

British Gas say this price rise reflects the rising costs of delivering electricity to customers. It also points out that it had held off raising prices for many more months than rivals.

What about the other suppliers?

The rest of the ‘Big Six’ (E.ON, SSE, npower, Scottish Power, and EDF) have all raised their prices over the past few months, though not with such sharp increases.

British Gas is the only one of the Big Six to have frozen prices throughout last winter.

Time to switch?

Yep! This should be a wake up call for British Gas customers. UK customers overpay billions each year to energy suppliers, when they could be switching and getting better deals! There is no point staying with your current supplier if you can get the exact same service for less. Enter your postcode below to get started.

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