Big energy price increases likely

Big energy price increases likely

Big increases in gas and electricity bills are likely this year, leading energy suppliers have confirmed.

Bosses of the big six energy firms are answering questions about prices from MPs on the parliamentary business and enterprise select committee.

Sam Laidlaw, the chief executive of Centrica, which trades as British Gas, said it was "clear that gas prices are going to have to move up".

He acknowledged that predictions of 40% price rises could be accurate.

Last year my gas bill went up by 25% on two separate occasions, that's a rise of 50%. This year it has gone up 17% already, that's 67%. If this rise of 40% goes ahead that will make it 107% in less than a year!

If inflation is only at 2.5%, allow another 1.5% for the Chancellor's lie, that's 4% why are we having to pay the other 103% above inflation?