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England’s energy giant, British Gas, rose their prices by over nine percent yesterday, sending the public into a frenzy over the highest prices its seen in recent history.
Ian Peters, Managing Director of British Gas Residential Energy, responded to accusations of profiting at the expense of the public by saying, “What’s pushing up energy prices at the moment are costs that are not all directly under our control, such as the global price of energy, charges that we have to pay for using that national grid that delivers energy to the home, and the cost of the Government’s social and environmental programmes.”
But many are not having it, according to The Independent. Tom Lyon, an energy expert, drew attention to the energy company’s promise made to the public to use their recent rise in profits to avoid major price hikes.
Many also blame British Prime Minister, David Cameron, for avoiding any government regulation over such high gas prices.
Caroline Flint MP, Labour’s Shadow Energy and Climate Change Secretary, told reporters, “These latest price rises show clearer than ever why Labour’s price freeze is needed. People are sick and tired of being left out of pocket because of David Cameron’s failure to stand up to the energy companies.”
The Telegraph reports that Ed Milliband, Leader of the British Labour Party, promised to fix energy prices at 120 pounds for two years if elected. British Gas worries that a move like this could hurt the British economy if it runs energy firms and investments out of business.
But Flint reiterated, “Britain’s energy market isn’t working for ordinary families and businesses.”