The boss of British Gas has said it is “an inconvenient truth that unit prices of energy are going to go up”.
Phil Bentley said that “prices will only go one way unless someone discovers huge amounts of gas and imports it into the UK”.
He was speaking ahead of a summit today between UK energy secretary Chris Huhne and the country’s six main power providers to discuss gas and electricity tariffs.
The six – British Gas, EON, EDF, nPower, Scottish Power and SSE – have all been attacked for price rises in the past year and there have been calls from government and consumer groups for them to make tariffs more transparent.
Last week SSE announced it would instigate a “radical” pricing overhaul and today British Gas, EON, nPower and ScottishPower announced a price freeze for the rest of the year.
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