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British Gas Set To Increase Prices By 35%

In a moved which again was not totally unexpected Centrica, the parent company of British Gas, has announced that cost rises will be passed onto British Gas customers in the run up to winter after revealing that profits had fallen by 68% in the six months to June 2008.

Customers who just take gas from British Gas will see their bills rise by 35% and those who take both electricity and gas will see a 25% rise in their bills. As we approach the winter season the signs are that energy costs are going to creep higher and higher even though the price of oil has weakened of late. The situation, which is under constant review by the government, is pushing more people into poverty each and every day and starting to impact upon every area of the economy.

There is some suspicion that the energy companies are using the volatile oil price to confuse customers but on a more basic level they need to move their charges in line with the changing gas and electricity prices. The likes of Centrica has shareholders to keep happy and as much as the government huff and puff and talk of windfall taxes there is really very little they can do.

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