SSE raises gas prices 29.2%

Source: Exec Digital UK

Date :21/08/2008 17:19:43

Scottish and Southern Energy (SSE) has announced that it will increase gas prices 29.2 percent, while electricity prices will soar 19.2 percent from Monday.

The price hike comes after E.ON warned of similar increases earlier today, August 21, as it blamed the increasing energy prices in the last year.

Alistair Phillips-Davies, Energy Supply Director of SSE, explained: “Global demand for all types of energy has risen steeply and supplies of finite resources like oil and gas are under intense pressure.”

Phillips-Davies apologised for having to take steps to cut costs, adding that price rises could not be delayed further.

British Gas announced price hikes earlier this year, while Scottish Power and npower are expected to increase their respective domestic energy bills in due course.

According to SSE, wholesale prices for electricity rose by 50 percent in the period between February 2008 and July 2008, while gas was up 60 percent in the same period.

The revised levels will be held until the start of 2009.