Centrica Hits Millions of U.K. Energy Users With Price Hike
- British Gas Standard Variable Tariff to rise 3.8% from October
- Increase reflects higher wholesale energy costs since April
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Centrica Plc raised its price for power and gas for a second time this year, citing soaring costs of buying energy on the wholesale market.
The utility’s British Gas unit, the nation’s biggest supplier to homes, will increase its standard variable tariff in October, hiking the average bill for the 3.5 million customers on the plan by 3.8 percent to 1,205 pounds ($1,554), the company said on Wednesday.