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News that Alex Salmond, the leader of the ruling SNP in Scotland, has been somewhat liberal with his recent comments about housing budgets and assistance has caught the attention of opposition...
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Monday 7th July 2008
Gas and electricity bills are to rise by a further 15 per cent before winter, the Times reports.
Anonymous industry insiders who spoke to the newspaper have indicated that high wholesale energy costs - which provoked a similar double-digit rise from providers in the New Year - will lead to the increase.
Prices for natural gas have increased by over 120 per cent since last year, while crude oil hit an all-time record of over $146 last week.
Coal for European delivery also hit $225 per tonne on the market earlier today - up from just $80 a year ago.
Speaking to the newspaper, an energy industry source said: "[Centrica] are really feeling these prices... so it is just a question of how long they can hold on without being forced to issue a profit warning.
"Nobody wants to be put in that position."
Another source added: "By the time you get into September, the volumes of gas being used increases sharply which magnifies the losses, so the end of August would be the very latest [for the price rise]."
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