Centrica chief warns price hikes ahead

Scottish Power’s 19% price hike for gas announced last week could be copied across Britain, the chairman of British Gas owner Centrica has warned. Sir Roger Carr suggested that despite […]

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By Vicky Ellis

Scottish Power’s 19% price hike for gas announced last week could be copied across Britain, the chairman of British Gas owner Centrica has warned.

Sir Roger Carr suggested that despite hopes otherwise, energy suppliers are likely to follow suit and boost their gas prices by up to 20%.

The newly appointed CBI president told The Sunday Telegraph: “I think the hope is that wholesale prices will start to soften and it won’t be required but the fact is that hasn’t occurred and therefore Scottish Power decided it was the moment to implement the price increase.”

He added that the knock of effect of “very material” wholesale prices in recent months have forced a price increase for consumers.