British Gas raises prices as Ofgem launches inquiry into profiteering

[Philofacts]

Ofgem, the energy regulator, has opened an inquiry into potential profiteering by the main energy suppliers.
However British Gas has still gone ahead with their latest hike in energy prices raising GAS prices by 18% and ELECTRICITY prices by 16% last week.

Nearly all energy suppliers blame the rising cost of 'wholesale gas' but consumers should be aware that the wholesale costs are still about
34% LOWER than their 2008 peak. However British Gas prices have risen 44% for gas and 21% for electricity.

[Fred]

The sooner the price rises are looked at the better.
Energy bills  now account for a large proportion of people's income.