Though this was not mentioned by British Gas, a BEIS report published last week says
rising wholesale energy prices are partly due to the weak pound, which has fallen in the wake of the EU referendum in mid-2016.
Not exact matches
U.S.
wholesale prices (PPI)
rose a full 1 percent in July as
energy costs surged.
Ed Miliband's
energy price freeze would lead to power cuts if
wholesale prices rose, the co-founder of energyhelpline.com has told Politics.co.uk.
Blaming an increase in
wholesale energy prices, Npower has told its four million customers to expect average gas
prices to
rise by 17.2 per cent and electricity by 12.7 per cent, with other suppliers expected to follow suit.
Ofgem, the
energy regulator, has found that bills respond faster when
wholesale prices rise than when they fall.
A study by the New York Affordable Reliable Electricity Alliance found that New York's
wholesale electricity market
prices (that is the
price of fuel itself) went down by nearly 30 percent since 2008, but state
energy taxes shot up 168 percent and transmission fees
rose 55 percent over the exact same time period.
The grid operator testified that «
wholesale energy prices and emissions will
rise when extreme weather results in natural gas pipeline constraints — driving up the
price of natural gas (and
wholesale energy) and forcing New England to rely on oil - and coal - fired generation for multi-day (or multi-week) periods.»
The Telegraph and British Gas also ignore recent findings from
energy regulator Ofgem, which show that
wholesale energy price rises over the past 12 months have raised costs for utility firms.
Now, let's assume that the «right» amount of margin for a duel fuel
energy company is # 50, and then that the current October
price was caused by increases in
wholesale costs, and the other actual
rises.