One of the UK’s biggest energy suppliers, British Gas, has sent out a warning to some of its customers that their prices will be rising soon.
The update comes after energy regulator Ofgem announced a 2% rise in its price cap, which sets a maximum on what energy companies can charge customers on default tariffs. The company posted the following on its website:
“If you’re on a variable tariff, your prices will go up… Switch to one [of] our fixed tariffs and relax, knowing your prices won’t change. And if we offer a cheaper one in the future, you can switch for free.”
The company also gave some guidance on how it expects prices to change in future, although it stresses that these are in no way guaranteed. It says that unforeseen developments can arise despite the markets having been trading relatively stable in recent months. It points to wholesale gas prices potentially rising should the geopolitical situations in the Middle East or Ukraine worsen. This would ultimately feed into retail bills, apart from for those on a fixed tariff.
Even with relatively stable markets and a competitive tariff, energy bills are still much higher than they were a few years ago. Xgas can help you cut your gas bill by installing thermostatic radiator valves or providing a boiler service in Wrexham and nearby places like Chester. Replacing a very old boiler with a modern efficient condensing boiler can also be particularly effective. Get in touch to learn how you can even spread the cost through financing.