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Bomb drops

You heard it here first. British Gas is putting up its prices by an average of 18 percent for gas and 16 percent for electricity as from August 18.

That means the average household bill for dual fuel British Gas customers will rise from £1,096 to £1,288.

Managing director of British Gas Phil Bentley blamed the higher bills on the company buying half of its gas on the international wholesale market.

'We are buying in a global energy market and have to pay the market rate. Rising wholesale costs is an issue facing all energy suppliers,' he said.

Meanwhile Ann Robinson, of uSwitch.com, said: 'We are straying into deeply worrying ‘double price hike’ territory. The impact on family budgets will be huge, but it will be particularly hard on those living on fixed incomes and I would urge both suppliers and the Government to start thinking now of how they can provide some support. It may seem a long way ahead, but winter will be coming too quickly for those who cannot afford their fuel bills.'

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