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British Gas could lose GBP 1 billion

British Gas prices risk driving away customers

British Gas is in danger of losing GBP 1.27bn as customers switch away following the energy giant’s huge price rise, Which? warns today.

In a survey, we found that one in eight British Gas customers – who from today have to pay 22 per cent more for their electricity and gas – are in the process of switching away or plan to switch within the next month.

‘It looks like the rise in British Gas prices is finally shaking people into action,” says Jenni Conti, Head of Services Research at Which?.

‘Many people have remained loyal to British Gas since deregulation and it currently holds 54 per cent of the UK gas market, but this latest round of price rises may finally have pushed customers over the edge. Our research shows that people are intending to vote with their wallets and go elsewhere for their energy.

‘With the British Gas prices rises, and yesterday’s announcement of a hike from Powergen – which was the largest single price rise ever seen in the industry for gas – we strongly advise people to check the deal they’re on to see whether they’d save money by moving to another supplier.

‘Switching could save people on average GBP 160 but also sends a clear message to power companies that customers aren’t prepared to put up with such massive increases.’

Which? runs its own impartial energy price comparison site (see related links below) where consumers can check out which supplier will give them the best deal for gas and electricity.

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