British Gas rules out bills cut

Leading energy supplier British Gas has ruled out cutting customers’ bills, despite the price of wholesale gas falling, until a “sustained wholesale fall [in costs]” takes place.

Nick Luff, finance director of parent company Centrica, said: “Gas prices have not come down in the way oil prices have, and we would need to see a sustained wholesale fall before we cut consumer prices.”

Although gas prices have not quite dropped in line with the recent oil price drops, they have still fallen by over 20% since they peaked in the summer, says The Telegraph, leading some analysts to predict a fall in consumer prices.

However, no such falls have yet occurred – leaving billpayers, many of whom have been pushed towards debt in recent months, wondering if they will ever see their bills reduced.

A spokesperson for debt management company Gregory Pennington said: “There have been calls from watchdogs and from the Government for energy companies to reduce their prices, but it remains to be seen whether this will happen on a large scale. A lot of billpayers are under pressure from high fuel costs and many are facing debt problems as a result.

“As always, we advise anyone struggling with debt to seek professional debt advice as soon as possible. The right debt management solution could help relieve some of the financial pressure.”

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Gregory Pennington offer debt management plans as well as a range of other debt solutions. If you are worried about debt, contact one of our expert debt advisers now.