The latest British Gas price rise saw customers charged an extra 6% in 2014. After raising prices by 9.2% in November last year, the supplier announced a subsequent reduction
The original British Gas price rise, announced in October 2013, pushed up British Gas prices by 8.4% on gas and 10.4% on electricity, or £125 a year, effective November that same year. The news came just one week after SSE's announcement that it would increase its own prices by 8.2%.
In December 2013, after the government announced it would be reducing green levies, British Gas issued a statement explaining that it would reduce its price rise by 3.2%, effective January 1.
See more information about BG, including British Gas price rise history, customer satisfaction reviews and where their average bill costs ranks among the big six on uSwitch's British Gas supplier page.
What uSwitch say about the British Gas price rise
Tom Lyon, an energy expert at uSwitch expressed the disappointment British Gas customers will feel after the big six supplier hinted that it would not be raising prices this year after announcing a big profit:
“Today’s price hike will be seen by many as a broken promise after the supplier suggested in May that it would use the extra profits it made last winter to hold off from any price hikes.
"British Gas customers have had the rug pulled from under their feet and I suspect that many will be feeling let down and betrayed. Adding a further £125 to an already sky-high energy bill will leave many buckling, but the real damage will be to trust.
“Now that Britain’s two biggest suppliers have announced there is nothing to stop the others from following suit. The question now is whether it will be a trickle or a stampede. However, the fact is that households will be struggling to afford to keep warm this winter.
“If you want to protect yourself then the time for action is now. There are some great fixed price deals on the market which can protect you from price hikes for anything up to four winters. This protection could be extremely valuable for those on a tight budget and could make all the difference in being able to afford to keep warm. As well as reducing the cost of your energy, now is also the time to reduce the amount you use – not by going cold, but by making your home as energy efficient as possible.”
How are British Gas justifying the hike?
British Gas Managing Director, Ian Peters, followed SSE's tact of blaming subsidies and the wholesale market for the rise:
"We haven’t taken this decision lightly, but what’s pushing up energy prices at the moment are costs ... such as the global price of energy, charges that we have to pay for using the national grid ... and the cost of the Government’s social and environmental programmes."
What can energy consumers do to beat British Gas price rises?
Those worried about switching after the British Gas price increase only to be subjected to a price rise from another supplier should consider fixing their energy costs. Fixed price deals allow you to lock in your gas and electricity rates for up to four winters.