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Centrica warns over rising gas prices
British Gas owner Centrica warned today of potential further bill hikes for customers after revealing that continued high wholesale gas prices would hit results this year.
The firm said that overall operating profits for the first half of this year would be “materially lower” compared with a year ago, mainly due to poorer performance in its British Gas Residential arm.
It added that wholesale gas prices for the second half of this year were double those compared with a year ago.
Centrica said: “While the current outlook for gas prices does create a challenging environment for energy suppliers, we will take the necessary action to deliver reasonable margins in the retail business.”
British Gas upped gas and electricity bills by an average of 15% in January to help cope with rising wholesale prices.
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