The British Gas price rise of 12.5% comes into effect today (15/9/17), hitting millions of customers.
The increase will affect people on a standard variable tariff, and estimates suggest it could collectively cost households £235 million.
To us at Bristol Energy, the British Gas price rise doesn’t make sense. The price of wholesale energy has come down not up. And at Bristol Energy we’ve kept our prices stable since last November.
That’s because we believe people should be treated fairly. Keeping your home warm shouldn’t be a struggle. Yet millions of people across the country continue to pay hundreds of pounds a year more than they need to. And companies like British Gas are simply profiteering at the expense of their customers.
The difference between the cheapest and most expensive tariffs is now around £300 a year. Which is why we think a price cap should be put in place to protect those people who have been penalised for their loyalty for far too long.
This is being worked on by the energy regulator Ofgem. Latest proposals are for a safeguard tariff, to protect those people who currently receive the Warm Homes Discount.
Some Government critics see this is a step back, and many smaller energy companies like us continue to campaign for a price cap across the board.
We believe the Government should extend the proposed price cap to prevent the larger energy companies from over-charging their most loyal customers.
All suppliers have a responsibility to protect the four million people who are struggling to cook a hot meal. Or making the stark choice between heating or eating.