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British Gas to raise UK energy tariffs from April 1 -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: British Gas signs are seen in Staines, southern England. July 31, 2014. REUTERS/Toby Melville

LONDON (Reuters), – Centrica’s British Gas stated Thursday that its standard variable tariff will be increased starting in April to meet Ofgem, the energy regulator.

Ofgem announced earlier this month that it will raise its limit on most commonly used tariffs (which covers 22 million households) by 54% in April, due to an increase in wholesale gas prices.

British Gas announced that they will contact customers informing them about the price changes to their bills.

EDF (PA 🙂 Energy is also owned by France’s EDF. It has stated that it will increase its prices for standard-variable tariff customers by 54% starting April 1.

About 30 British energy suppliers have been forced to leave the market by rising wholesale prices in the last year, and 26 of them are bankrupt as a result. Many big utilities are now taking on customers that were left behind by those companies.

Ofgem, which announced short-term measures Wednesday to stabilize UK’s energy markets to protect those who will face an additional rise in prices starting April, made two announcements.

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