Energy companies have received a warning from the government that they could still legislate a price cap following British Gas’s announcement of a 12.5% increase in electricity prices.
British Gas, a subsidiary of Centrica and one of the UK’s Big Six energy providers, announced its plans to impose an electricity price hike on September 15th of this year. The 12.5% increase will soon affect an estimated 3.1 million customers.
Centrica, British Gas’ Spanish parent company, has announced that it will be launching a new unit dedicated to the funding and ‘incubating’ of energy related tech start-ups.
Independent research has shown that over the past month, five of the UK’s Big Six energy providers have increased prices for their cheapest tariffs by more than 15%.
Major energy supplier British Gas has announced that it will be offering eight hours of free electricity at weekends to nearly two and a half million of its customers.