SSE joins Big Six price cut club

As sure as Spring follows Winter, Big Six energy companies follow each other with price cuts at this time of year. Today SSE announced it was cutting its gas price by an average of 5.3% from the end of March. It claims this will save a standard tariff customer around £32 per year and is […]

Gas demand drops with warm weather

Gas demand in the UK fell “sharply” this morning on the back of warmer temperatures. There’s been a 15% fall since yesterday which is “quite a big drop” according to Gary Hornby, Energy Market Analyst at Inenco. He told ELN: “The LDZ – which is residential demand – dropped, that’s probably people and small businesses […]

UK power and gas prices “surged” in March

The cost of gas and power “surged” in March as record low temperatures drew heavily on the nation’s natural gas reserves. Power prices climbed 26% from February and 48% from March 2012, suggests new analysis released by Platts. The market analysts put the price rise down to the nation’s heavy reliance on natural gas for […]

Centrica profits up in ‘tough year’

Centrica made £52 profit from every home it supplies last year. It revealed this today in its annual report, which showed earnings were £1.3 billion. A fifth of Centrica’s profits were made in the domestic sector, while the bulk came from the upstream oil business (42%) which made £1,023 million. Centrica said British Gas’s residential […]