Householders may want to compare electricity and gas prices now before the next announcement from their energy supplier that says they are increasing. Centrica, British Gas’ parent company has released forecasts for profit and expects full year profits to show growth for year on year but subject to certain variables that include retail margin recovery.
Another price hike may occur thanks to the caveat from the company, said director of energy comparison, Mark Todd of energyhelpline.com. There is without a doubt price increases down the road and the announcement by Centrica of a retail margin recovery is the most recent sign of increases to come.
This just means it is a matter of when and not if that consumers will once again get hit in their pockets. Signs indicate it will be sooner than later and the increase could be as high as 20%. Research at the site says over a half a million people have been switching energy prices since a round of price increases were announced by Scottish Power.