eshrag
05-09-2011, 10:12 AM
http://hits.guardian.co.uk/b/ss/guardiangu-feeds/1/H.22.2/60878?ns=guardian&pageName=Energy+bills+set+to+rise+sharply+this+win ter%2C+Centrica+warns%3AArticle%3A1555425&ch=Business&c3=GU.co.uk&c4=Centrica+%28Business%29%2CBusiness%2CEnergy+bil ls+-+UK+consumer%2CMoney%2CConsumer+affairs+%28Money%2 9%2CHousehold+bills%2CUK+news&c5=Personal+Finance%2CNot+commercially+useful%2CBu siness+Markets%2CEthical+Living%2CConsumer+News&c6=Graeme+Wearden&c7=11-May-09&c8=1555425&c9=Article&c10=&c11=Business&c13=&c25=&c30=content&h2=GU%2FBusiness%2FCentrica
Centrica blamed the ongoing unrest in the Middle East and the Fukushima nuclear crisis for pushing up the cost of power
Britons should be braced for higher energy bills this winter after Centrica warned that wholesale gas and electricity prices have risen by a quarter compared with last year.
Centrica blamed the ongoing unrest in the Middle East and the Fukushima nuclear crisis following March's earthquake and tsunami in Japan for pushing up the cost of power. Domestic bills, the energy giant said, do not yet reflect this.
"In the UK, the forward wholesale prices of gas and power for delivery in winter 2011/12 are currently around 25% higher than prices last winter, with end-user prices yet to reflect this higher wholesale market price environment," said Centrica, which owns British Gas, on Monday morning.
Oil prices had soared earlier this year, with the cost of a barrel of Brent crude hitting $127 in April, compared with just $85 a year ago. Prices did fall back slightly last week, though, as the commodities boom faltered. On Monday, Brent crude was trading at $111 a barrel.
Shares in Centrica fell by 3.4% in early trading, to 304.8p, after it admitted that its profit growth for the current financial year will be lower than expected. It pinned the blame, in part, on the tax increases announced by George Osborne in the last budget (http://www.guardian.co.uk/business/2011/may/03/north-sea-oil-tax-budget). Centrica now expects to pay an extra £300m in tax in the UK, and told shareholders that it will no longer "maintain the previously projected high levels of investment in the UK".
"We continue to expect growth in our 2011 group earnings but at a more modest rate than anticipated at the time of our last results announcement as upstream profits have become more highly taxed," said Centrica.
Last week Centrica warned that it may close its Morecambe Bay field (http://www.guardian.co.uk/business/2011/may/03/viewpoint-centrica) in response to the raid on North Sea oil and gas producers.
Centrica told the City that the UK domestic market was "significantly more challenging" than a year ago, with average residential gas consumption in the first four months of the year 19% lower than for the same period in 2010. Electricity consumption fell by 4%. The company said this was due to warmer weather this year, particularly in April, as well as energy efficiency improvements.
The company also reported that British Gas now has nearly 16 million customers, a slight increase on the level at the end of 2010.
Centrica (http://www.guardian.co.uk/business/centrica)
Energy bills (http://www.guardian.co.uk/money/energy)
Consumer affairs (http://www.guardian.co.uk/money/consumer-affairs)
Household bills (http://www.guardian.co.uk/money/household-bills)
Graeme Wearden (http://www.guardian.co.uk/profile/graemewearden)
guardian.co.uk (http://www.guardian.co.uk) © Guardian News & Media Limited 2011 | Use of this content is subject to our Terms & Conditions (http://users.guardian.co.uk/help/article/0,,933909,00.html) | More Feeds (http://www.guardian.co.uk/help/feeds)
http://feedads.g.doubleclick.net/~at/Pg6YLvB0rB9U5UiNOa45SDAq90E/0/di (http://feedads.g.doubleclick.net/~at/Pg6YLvB0rB9U5UiNOa45SDAq90E/0/da)
http://feedads.g.doubleclick.net/~at/Pg6YLvB0rB9U5UiNOa45SDAq90E/1/di (http://feedads.g.doubleclick.net/~at/Pg6YLvB0rB9U5UiNOa45SDAq90E/1/da)
أكثر... (http://www.guardian.co.uk/business/2011/may/09/energy-bills-to-rise-this-winter-centrica)
Centrica blamed the ongoing unrest in the Middle East and the Fukushima nuclear crisis for pushing up the cost of power
Britons should be braced for higher energy bills this winter after Centrica warned that wholesale gas and electricity prices have risen by a quarter compared with last year.
Centrica blamed the ongoing unrest in the Middle East and the Fukushima nuclear crisis following March's earthquake and tsunami in Japan for pushing up the cost of power. Domestic bills, the energy giant said, do not yet reflect this.
"In the UK, the forward wholesale prices of gas and power for delivery in winter 2011/12 are currently around 25% higher than prices last winter, with end-user prices yet to reflect this higher wholesale market price environment," said Centrica, which owns British Gas, on Monday morning.
Oil prices had soared earlier this year, with the cost of a barrel of Brent crude hitting $127 in April, compared with just $85 a year ago. Prices did fall back slightly last week, though, as the commodities boom faltered. On Monday, Brent crude was trading at $111 a barrel.
Shares in Centrica fell by 3.4% in early trading, to 304.8p, after it admitted that its profit growth for the current financial year will be lower than expected. It pinned the blame, in part, on the tax increases announced by George Osborne in the last budget (http://www.guardian.co.uk/business/2011/may/03/north-sea-oil-tax-budget). Centrica now expects to pay an extra £300m in tax in the UK, and told shareholders that it will no longer "maintain the previously projected high levels of investment in the UK".
"We continue to expect growth in our 2011 group earnings but at a more modest rate than anticipated at the time of our last results announcement as upstream profits have become more highly taxed," said Centrica.
Last week Centrica warned that it may close its Morecambe Bay field (http://www.guardian.co.uk/business/2011/may/03/viewpoint-centrica) in response to the raid on North Sea oil and gas producers.
Centrica told the City that the UK domestic market was "significantly more challenging" than a year ago, with average residential gas consumption in the first four months of the year 19% lower than for the same period in 2010. Electricity consumption fell by 4%. The company said this was due to warmer weather this year, particularly in April, as well as energy efficiency improvements.
The company also reported that British Gas now has nearly 16 million customers, a slight increase on the level at the end of 2010.
Centrica (http://www.guardian.co.uk/business/centrica)
Energy bills (http://www.guardian.co.uk/money/energy)
Consumer affairs (http://www.guardian.co.uk/money/consumer-affairs)
Household bills (http://www.guardian.co.uk/money/household-bills)
Graeme Wearden (http://www.guardian.co.uk/profile/graemewearden)
guardian.co.uk (http://www.guardian.co.uk) © Guardian News & Media Limited 2011 | Use of this content is subject to our Terms & Conditions (http://users.guardian.co.uk/help/article/0,,933909,00.html) | More Feeds (http://www.guardian.co.uk/help/feeds)
http://feedads.g.doubleclick.net/~at/Pg6YLvB0rB9U5UiNOa45SDAq90E/0/di (http://feedads.g.doubleclick.net/~at/Pg6YLvB0rB9U5UiNOa45SDAq90E/0/da)
http://feedads.g.doubleclick.net/~at/Pg6YLvB0rB9U5UiNOa45SDAq90E/1/di (http://feedads.g.doubleclick.net/~at/Pg6YLvB0rB9U5UiNOa45SDAq90E/1/da)
أكثر... (http://www.guardian.co.uk/business/2011/may/09/energy-bills-to-rise-this-winter-centrica)