Ominous portent? British Gas increases price of market tracker by 14%
By Jayne Warren - 09/06/2008
uSwitch are warning vulnerable UK gas customers, such as the elderly, that they must protect themselves from yet more price rises. The warning comes as a result of British Gas' announcement that it is putting gas and electricity prices up on its Market Tracker energy plan by 14% - with immediate effect.
The move follows only weeks after Centrica, British Gas’ parent company, warned of the pricing pressures all suppliers are coming under - and gave a strong hint to consumers that it would have no other option but to increase household energy prices for the second time this year.
Ann Robinson, Director of Consumer policy at uSwitch.com, said: “The British Gas Market Tracker plan tracks wholesale energy prices - so it acts like an early warning system, alerting consumers to the pressures suppliers are under and the impact this could have on household energy prices.
“The recent Tracker price increase following so swiftly from Centrica’s hint a few weeks ago, is a clear sign of things to come, and consumers should now be fully prepared for across the board energy price rises. We are talking about ALL suppliers putting up their prices for a second, or even third, time this year. In the worst case scenario this could lead to the average household energy bill hitting £1,327 by the end of the year.
“Consumers cannot afford to ignore these signs. They need to take action now to stand any chance of limiting the impact of higher prices. Online energy plans remain a good option for those who want to pay a lower price now and are happy to take their chances on the market in the future. Those who are more vulnerable to price rises or are already on a stretched budget should consider a fixed or capped price plan to protect themselves. These plans carry a premium, but should still work out cheaper than the plan you are currently on if you’ve never switched before.”
For more information visit the website below or call 0800 093 06 07. The service is also available via fax and post. Fax 020 7233 5933 or write to Customer Services, uSwitch.com, 111 Buckingham Palace Road, London, SW1W 0SR, with your postcode and usage details.