The news source reported that, Centrica which initially planned to raise gas prices gradually is seeking to hike prices substantially by the end of August 2008.
The increase in gas prices is expected to average around GBP800 per year for Centrica’s 16 million customers. The annual fuel bill, including electricity, is expected to average around GBP1,300 per household, according to Thomson Financial.
Centrica is keen to increase the price of gas at the earliest, to mitigate losses at British Gas, which is reportedly unable to keep up with the increase in the wholesale price of gas.
