Annual gas bills will surpass £1000

18 July 2008

Domestic gas prices are linked to the price of oil

A new report from the UK’s largest supplier of domestic energy, Centrica, has indicated that energy bills could increase by over 60% within the course of the next few years.

The report said that the average annual gas bill could increase from £600 to over £1,000 early into the next decade.

It added that the continuing increases to the price of oil could mean that the cost of both gas and electricity will become more expensive.

Jake Ulrich, managing director of Centrica, warned that the price of gas was likely to continue increasing “for some time”.

“I think it is going to hit people hard,” he said.

“I do think we will see people change their behaviour, I think people will use less energy and I hate to go back to the Jimmy Carter days in the US but maybe it’s two jumpers instead of one.

“I think people will change the temperature they keep the house, they’ll be more cognisant of energy waste, they’ll buy better appliances.

“We’re part of a world economy and I don’t think we can rely on UK production or cheap gas, cheap energy of any sort any more,” he added.

Click the link to compare gas and electricity