British Gas Summer Price Hike Announced

British Gas has announced that from 18th August this year, their domestic tariffs for gas will rise by an average of 18 percent and 16 percent for electricity.

The company, owned by Centrica, following new rules, has started to notify their customers of the rise. 

Consumers continue to battle with a variety of rising costs including the price of food and petrol, and will certainly be feeling the squeeze come winter.

ìWe know there is never a good time to raise prices, but we are buying in a global energy market and have to pay the market rate,î said Phil Bentley, British Gas Managing Director.

The average household bill, following this hike, is set to rise by £190, although the weight of this will probably not be felt until the winter months.

This comes following a price rise in December 2010 too, where British Gas prices rose by 6.9 percent and electricity by 6.7 percent.  Within the space of a year, customers will have seen their bills rise by 25 percent, which is about £258 per bill extra than the same time last year.

Keep energy bills under control

British Gas claims to be investing money into securing new sources of energy for its customers to be able to reduce costs, however take a look at the following advice if you are already struggling to keep up with payments:

Insulation

According to British Gas, the right loft and wall cavity insulation can save customers around £255 each year in total.  If you have never had loft or wall cavity insulation added to your home, this may be a good time to consider investing in this to make sure the energy you use to heat your home stays in your house so you can be more energy efficient.

Energy Monitors

Customers can apply for an Energy Monitor to track the amount of energy they use ñ this can help them identify patterns when they are using electricity or gas when it is not required ñ and it also helps to achieve accurate bills.  Households could save £125 a year from this move.

Payment methods

If customers pay by direct debit then they could save themselves £67 each year ñ it is also worth fixing your gas and electricity prices as this can offer security, so customers know how much they will be charged.

If you are worried about how the recent round of energy price hikes will affect you, it may be worth comparing energy suppliers for the best rate to suit your individual consumption.

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