Trade, britains only surviving cloth hall opens after a multi Million Pound renovation. Good morning. Its tuesday 1st august. Im julian worricker. Welcome to bbc Newsroom Live. British gas has said it will increase the price of electricity for the first time in nearly four years. Its owner centrica says Electricity Prices will increase by 12. 5 from 15th september. 3. 1 million customers will be affected. But the companys gas prices will be held at their current level. The average annual dual fuel bill for households on a standard tariff will rise by £76, up by 7. 3 . Ian conn is the Chief Executive of british gass Parent Company, centrica. He explained why the price rise was necessary despite a decrease in the wholesale cost of energy. First of all, the last time we moved our Electricity Prices was in january 2014 and since then they have been held flat. From that time, and you are correct, wholesale prices have fallen, we estimate about £36 on an average bill, that is not what is d
And the new man at vogue, Edward Enninful takes over at the premierfashion magazine. Good evening and welcome to the Bbc News At Five. British gas has defended its decision to raise Electricity Prices by 12. 5 for more than Three Million customers next month. Centrica, which owns british gas, said it was facing increased costs from government policies, such as installing smart meters, and for transmission and distribution. It said that as a result, its selling electricity at a loss. But the government has expressed concern, insisting that its policies dont explain the increase. Our Business Correspondent theo leggett reports. British gas likes to say its putting its customers in control. Were bringing the nation smarter connected homes. But even if they turn the heating down, those on a standard variable tariff will see their bills going up. After the increases announced today, the cost of an average dualfuel energy bill, thats electricity and gas provided by british gas, will be going