British gas hikes up electricity prices

There is an over supply of gas around the world. Wholesale prices are almost rock bottom. And yet British Gas has hiked its electricity prices by a searing 12.5 %. Faced with a barrage of outrage, it states that this is the first rise in 4 years, and blames government energy subsidies and the rising price of power transmission. Bottom line? The move will affect over 3 million customers and add around £76 to the average dual fuel bill.