When it comes to Britain’s energy companies, there are none which can boast the scale, brand recognition and history of British Gas.
British Gas trace their history back to the Gas Light and Coke Company, the very first public utility company in the world. Founded by Frederick Albert Winsor and incorporated by the Royal Charter on the 30th of April, 1812 under the seal of King George III, the company have, through various guises and acquisitions, provided energy for 205 years.
Today, they boast tens of millions of customers across the country and if you’re not living in a British Gas home or working in a business powered by the company, you’re almost certain to visit one through the course of your day.
That’s why you might well be looking to find the latest British Gas news. In this guide, we’re going to share with you the very latest British Gas news from October 2017. Let’s get started.
According to price comparison website MoneySupermarket, 3.1 million British Gas customers were hit with a 12.5% increase in electricity prices on the 15th of September.
It’s the most expensive day in recent history for energy customers and the changes collectively cost households £235m per year.
The Centrica owned company first announced their latest round of price rises in August, and prompted calls for greater regulation amid fears that these price hikes could hit the oldest and least able the hardest, as they’re less likely to switch energy suppliers.
British Gas have suffered an exodus of customers after their price hikes meant 3.1 million customers were hit with a 12.5% increase in their electricity bill, adding a total of £76 per year to the average fuel bill.
An estimated 150,000 homes have moved to cheaper rivals since the hike, a total of 3,571 a day, meaning a total of £168m a year in lost business for the company. That’s far from the estimated £235m British Gas are earning from the hike, but more than enough to worry the company.
It’s believed that a quarter of all switchers within the last six weeks have been from customers leaving British Gas, but British Gas are undeterred, saying that “The standard tariff is one of the cheapest in the market”, despite ample evidence to the contrary.
British Gas have been criticised for sending 390 of their employees on a “morale-boosting jolly” to Alton Towers at a cost of £55,000 at a time when they’ve dramatically raised the cost of electricity for millions of homes.
Marc Gardner of the Consumer Action Group dubbed the trip “ill-judged”, adding that “It’s a shame British Gas are not choosing to share money with the vulnerable and poor. This is a kick in the teeth for people.”