British Gas to “Keep Prices Down”

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As rain stops play on yet another summer, compareandsave.com (Leading UK utilities comparison site) comments on news that British Gas dodgy weather pricing pledge.

British Gas van

British Gas protecting UK consumers

We would urge Centrica to continue to offer consumers guidance as to what they might expect to pay without their intervention.

British Gas parent company, Centrica, has today confirmed (as reported in the Telegraph) that it will use any benefit generated through increased energy use, because of the very cold weather Britain has experienced at the start of 2013, to prevent future price rises for “as long as possible”.

In a trading update, ahead of their AGM, Centrica confirmed that energy consumption was up nearly one fifth year on year, but rather than pocketing increased profits the business, once a state run enterprise, has confirmed that the “…board has determined that any benefit arising from the exceptionally cold weather will be used to maintain our price competitiveness.” Although some might expect shareholders to be unhappy about such a call, Centrica could point to the fact that it gained 28,000 customers in the first 4 months of 2013 that its policy of competitive pricing is proving attractive to UK households.

A spokesperson for compareandsave.com, leading UK utility comparison website, commented:

“This is great news for the UK public. British Gas has clearly recognised that many UK households are already under extreme pressure financially. That said it could be argued that by keeping fees low British Gas could be saving up problem for people in the future –we would urge Centrica to continue to offer consumers guidance as to what they might expect to pay without their intervention. That way household will at least be able to plan for the day when British Gas can no longer offer protection.”
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compareandsave.com is one of the UK’s leading personal finance comparison websites. Based in Colchester, Essex, compareandsave.com has been helping UK consumers get a better deal on credit cards, savings accounts, personal loans and more for over five years.

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Mark Scott
Freedom Marketing Limited
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