High gas bills 'set to continue'

Published:
04 September 2008
Topic:
News,Gas & Electricity

Gas bills are not expected to fall any time soon, despite the recent slide in oil prices, householders have been warned.

Although crude oil has fallen to its lowest level since April, wholesale gas prices for the coming winter still stand above £1 a therm - double last year.

The UK's "big six" energy firms have already hiked prices twice this year thanks to the elevated wholesale costs, putting already-stretched family budgets under further pressure.

Consumer watchdog Energywatch says that the average dual fuel bill for gas and electricity is now £1283 compared with £912 at the beginning of the year.

James Allpress, an analyst at energy data company ICIS Heren, said: "Falls in the oil price don't immediately translate into falls in the wholesale gas price.

"This winter's wholesale UK gas price already has the high oil price built in, though if oil prices continue to fall, we should see that reflected in falling gas prices next year."

Copyright © PA Business 2008

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