MoneySavingExpert.com homepage
Cutting your costs, fighting your corner
Founder, Martin Lewis · Editor-in-Chief, Marcus Herbert
Search bar closed.
MSE News

British Gas profits 'to keep prices down' – for now

radiator
Michael Connolly
Michael Connolly
Editor
13 May 2013

Energy giant British Gas is pledging to use increased profits from the bitter winter to keep prices on hold — for the time being.

The dismal weather meant average residential gas consumption was up 18% higher in the first four months of 2013, compared with the same period in 2012.

British Gas promised to avoid any further price increases for "as long as possible". But it stopped short of announcing a formal price freeze for a defined period (see our Cheap Energy Club and Cheap Gas and Electricity guides to keep your bills down).

Parent company Centrica says in a statement: "Recognising the economic pressures facing many of our customers, the board has determined any benefit arising from the exceptionally cold weather will be used to maintain our price competitiveness.

"As a result of this decision, we expect the residential energy supply business to deliver an operating profit for the full year in line with expectations, weighted towards the first half.

"We will use that to effectively hold prices for as long as possible."

Hiked prices

British Gas raised prices by 6% in December 2012, just before the cold weather set in. All the big six energy firms hiked prices last winter, and more rises have been predicted for later this year.

The company says it gained 28,000 customers during that time.

MSE Forum

Energy prices

Forum image
MSE Email icon 5 November 2024

For all the latest deals, guides and loopholes simply sign up today - it’s spam free!

Martin's Savings Masterclass
Boost your interest NOW
Life insurance for beginners
Save £1,000s
Paying off student loan?
Some can get £100s back
'Free' National Trust family pass
Normally about £30
Are solar panels worth it?
See our updated guide
TWO pairs of specs £14
Including delivery
Budget need-to-knows
Stamp Duty, carers & pensions
Tools and calculators

Clever ways to calculate your finances

Find your odds of getting top cards
Find your odds for getting a cheap loan
Compare broadband, phone & TV deals
Compares thousands of mortgages
Eight calcs to help you work out the cost
We ensure you’re on the cheapest tariff