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British Gas raises Prices by 6pc

British Gas has announced that it will raise the prices of gas and electricity by 6pc in a move to cover rising costs, said to be largely outside of the companies’ control.

The company, which is the largest supplier of gas and electricity in the UK, has put the rise in prices down to a range of factors according to managing director, Phil Bentley: “Britain’s North Sea gas supplies are running out, and British Gas has to pay the going rate for gas in a competitive global marketplace”

He added: “Furthermore, the investment needed to maintain and upgrade the national grid to deliver energy to our customers’ homes, and the costs of the Governments policies for a clean, energy efficient Britain, are all going up.

In total 8.5m households are expected to be hit by the price hike which comes into effect on 16 November, excluding those customers that are on fixed price contracts, who will be unaffected. Those that are affected can expect to pay on average £80 a year more than they are now on the combined costs of gas and electricity.

There is an option for customers who want to escape price hikes such as this however, and that is to fix their energy prices for up to two winters. First Utility offers the cheapest option, allowing customers to fix their price up until March 2014, but there are exit fees of £30 per fuel. Another option for those who are put off by the exit fees is a deal with Scottish Power, where the price will be fixed for the same period, with no charge for exit.

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