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Market Tracker rates take a spike
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British Gas Increase Market Tracker Prices
Writes Dan Drage dan.drage@consumerchoices.co.uk
Leading energy supplier British Gas has increased the cost of its market tracker tariffs.
Prices will be increased by 14% with immediate effect on the British Gas (www.britishgas.co.uk) Market Tracker tariff.
The tariff, designed to track wholesale energy prices on a quarterly basis, targets the type of consumer who does not mind taking a chance on bills going up, as well as down.
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"Ominously for the consumer, British Gas price increases often pre-empt a raft of price rises from the five remaining ‘big six’ energy suppliers"
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Both Centrica, the parent company of British Gas, and E.ON (www.eonenergy.com) have warned of increasing price hikes in the last week. Exorbitant crude oil costs were cited as the primary driving force behind these price hikes, with E.ON confessing their energy supply service would be running at a loss without a retail price increase.
Ominously for the consumer, British Gas price increases often pre-empt a raft of price rises from the five remaining 'big six’ energy suppliers.
Chris Eagle, Commercial Manager at Credit Choices, has the following reminder for British Gas Market Tracker customers:
"British Gas Market Tracker customers can switch back to another tariff at any time and at no cost"
He continues:
"If the Market Tracker is no longer working for you, explore other avenues. Concentrate your search on online dual fuel tariffs with a direct debit payment option. These are the tariffs and payment methods that will grant you the most savings."
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