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SSE raises energy prices
22.08.2008
Scottish and Southern Energy (SSE) has announced it is increasing its domestic electricity and gas prices from next week.
The company said average prices for its electricity customers will rise by 19.2 per cent, while households on its gas tariffs will see a 29.2 per cent increase in bills.
Alistair Phillips-Davies, energy supply director at the firm, blamed "intense pressure" on energy resources and the "law of supply and demand" for the rise in wholesale energy prices.
"Energy suppliers have to take steps towards covering their costs and I am sorry that we cannot delay these price rises any longer," Mr Phillips-Davies said.
However, the price rises would have been higher if wholesale prices had not reduced in recent weeks, he added.
Last month, energywatch said customers would be "staggered" at the news that Centrica, which owns British Gas, reported profits of £992 million during teh first six months of the year.
The news followed an announcement made by the firm that it was raising its process by 35 per cent.
The company said average prices for its electricity customers will rise by 19.2 per cent, while households on its gas tariffs will see a 29.2 per cent increase in bills.
Alistair Phillips-Davies, energy supply director at the firm, blamed "intense pressure" on energy resources and the "law of supply and demand" for the rise in wholesale energy prices.
"Energy suppliers have to take steps towards covering their costs and I am sorry that we cannot delay these price rises any longer," Mr Phillips-Davies said.
However, the price rises would have been higher if wholesale prices had not reduced in recent weeks, he added.
Last month, energywatch said customers would be "staggered" at the news that Centrica, which owns British Gas, reported profits of £992 million during teh first six months of the year.
The news followed an announcement made by the firm that it was raising its process by 35 per cent.