Post by Steve Gardner on Jun 24, 2008 16:26:37 GMT
This was mooted a few days ago and it seems to have taken the BBC a while to catch up.
Anyway, more bad news. I wonder what effect this will have on inflation. I'm sure Mervyn King reckoned on this when he announced the CPI was likely to break the 4% mark. If not, then it's yet more pressure on inflation and an increased chance of interest rate rises.
More importantly, on a day to day basis, this is just a kick in the teeth for everyone, particularly as the rises are set to be introduced just in time for winter.
Now there's a surprise.
Source and full article: BBC
Anyway, more bad news. I wonder what effect this will have on inflation. I'm sure Mervyn King reckoned on this when he announced the CPI was likely to break the 4% mark. If not, then it's yet more pressure on inflation and an increased chance of interest rate rises.
More importantly, on a day to day basis, this is just a kick in the teeth for everyone, particularly as the rises are set to be introduced just in time for winter.
Now there's a surprise.
Source and full article: BBC
Big increases in gas and electricity bills are likely this year, leading energy suppliers have confirmed.
Bosses of the big six energy firms have been answering questions about prices from MPs on the parliamentary business and enterprise select committee.
Sam Laidlaw, the chief executive of Centrica, which trades as British Gas, said it was "clear that gas prices are going to have to move up".
Ian Marchant of SSE acknowledged that prices might rise by as much as 40%.
Rupert Steele, director of regulation at Scottish Power, said: "The whole industry figures will have to rise significantly."
Their comments came as MPs on the committee asked them to defend the big increases in gas and electricity prices facing households and businesses in the UK.
"We are seeing a seismic shift in commodity prices," said Dr Paul Golby, chief executive of E.ON.
"It's not difficult to see that the pressure is upwards," he added.
