The bosses of the UK’s biggest energy firms warned householders today to brace themselves for higher bills.
Prices are likely to rise due to soaring wholesale gas costs, directors said in evidence to the Commons Business and Enterprise Select Committee.
The politicians’ inquiry into energy prices comes amid fears that bills could rise by up to 40% this year.
Sam Laidlaw, chief executive of British Gas parent company Centrica, said he had not made a decision yet on prices but added: “It is clear that... at some point in the future gas prices are going to have to move up.”
Paul Golby, head of E.ON UK, added that bad debts doubled in the past 12 months as customers struggled to meet rising bills.