Centrica price promise ‘’too vague to be trusted’ says Peter Black AM

May 15, 2013 10:49 AM

The Welsh Liberal Democrat Assembly Member for South Wales West, Peter Black has accused Centrica of making vague promises over their huge British Gas profits in the first months of this year.

Mr. Black was reacting to the news that Centrica has said that it will use the profits it has made from the 18% increase in gas usage as a consequence of this year's unrelenting cold weather to hold energy prices 'for as long as possible.'

Mr. Black said: "Centrica's promise is too vague to be trusted. This is the same company that was happy to hike its prices by 6% just before the winter; won't tell us when it pays for its wholesale gas and at what price; and won't use the eye-watering profits from its generating business to cushion the impact upon people struggling with their bills.

"Centrica are on course to make just over half a billion pounds in profit this year. At the same time, Age Concern Cymru estimates that around 30% of Welsh households face fuel poverty.

"Worry about fuel price increases outranks both those about the price of food, and the level of debt in a recent UK-wide survey carried out by global information and market research company Nielsen.

"Centrica needs to make a clear commitment not to raise prices for a specified length of time. That way they can avoid the impression of simply delivering warm words to keep us quiet while they line up their next pre-winter price hike."

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