Why have energy suppliers been raising prices and why do analysts say more will follow? There are several reasons, such as more demand around the world as the population grows, and recent gas shortages and distribution issues. Costs are up significantly , by 10% or more since January 2017, and 15-20% from their low point last summer. Last September, British Gas put up prices for 3.1million people by 12.5%, and the regulator Ofgem is raising it’s tariff to protect vulnerable users from £1,031 to £1,089. It is likely that we will make the decision to move our prices upwards in the near future to keep in step with wholesale rises. If we do, we promise to let you know at least 14 days in advance. If prices go down we’ll pass through savings immediately. We also promise that we will continue to pass through energy to you with zero markup — in line with our tariff’s simple design. For more info we’ve published a great post on our blog about wholesale gas and electricity prices which goes into this in more detail.
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