LONDON (ShareCast) - A 69% slump in first half profits at its residential unit has prompted British gas-owner Centrica (LSE: CNA.L) to hike gas prices by 35% and electricity prices by 9%.
The UK's largest household supplier blamed the increase on rising wholesale gas prices.
A 25% rise in dual-fuel prices will cost the firm's 16m customers another £261 a year, sending the average bill to about £1,300.
Earlier this month, Centrica warned that annual gas bills could top £1,000 within a few years, up from £600 at present.
Source: http://uk.biz.yahoo.com/080730/214/i42aq.html
