By Daniel Hunter
Domestic fuel bills with British Gas are set to increase by as much as 9.2% as of November 23rd.
The increase, which will affect nearly eight million people in the UK, includes an 8.4% rise in gas prices and a 10.4% increase in electricity prices.
The company said it "understands the frustration" of prices rising faster than incomes. The average annual household bill will go up by £123.
Rival SSE has already announced an 8.2% increase in bills from 15 November. On average, customers will see a dual-fuel bill increase to £1,444 a year.
However, there are significant regional variations. On average, the biggest increase in a dual-fuel bill is an 11.2% rise in the Scottish Hydro Electric region. The smallest is a 6.8% increase in the south west of England.
"I know these are difficult times for many customers and totally understand the frustration that so many household costs keep on rising when incomes are not keeping pace," said Ian Peters, managing director of British Gas Residential Energy.
"We haven't taken this decision lightly, but what is pushing up energy prices at the moment are costs that are not all directly under our control."
Join us on