Energy supplier EDF has raised electricity prices by 17 per cent and gas prices by 22 per cent. The company blamed record wholesale energy costs for the increases, which come into effect immediately. The French firm is one of Britain's biggest energy suppliers, with 5.1 million customers. The hikes will mean a typical customer using gas and electricity will pay £3.97 a week more for their energy, it said. EDF spokesman Eva Eisenschimmel said: "Record world oil prices have continued to drive up wholesale gas prices. "Alongside unprecedented rises in wholesale coal and electricity costs, this has impacted hugely on the cost of supplying energy to our customers." The company said wholesale energy prices had increased by 70 per cent for coal, 63 per cent for gas and 47 per cent for electricity since it last increased prices in January. British Gas said its prices have not changed, but an independent report commissioned by owner Centrica last week warned prices could increase by...
Two more energy suppliers have announced they are to hit customers with steep price hikes. Scottish & Southern Energy, which has 8.8 million UK customers, is raising gas prices by 29.2 per cent...
Britain's energy bosses have warned householders to brace themselves for higher bills. They said prices are likely to rise due to soaring wholesale gas costs when they gave evidence to the Commons...
German car maker Porsche announced sharp gains in unit sales and revenue but left investors guessing about plans for Volkswagen, in which it has a 31 percent stake. Amid union concerns over...
Food prices will remain high over the next decade meaning millions more risk further hardship. A report published by the OECD and the UN's FAO food agency, ahead of next week's world food summit in...
Protests and strikes over fuel price rises spread across Spain. Hundreds of truckers in Barcelona and Valencia blocked city roads demanding government intervention. (SOUNDBITE) (Catalan) LEADER...
Rio Tinto wants rival miner BHP Billiton to "put up or shut up" over its takeover ambitions. MOREINFO: * Cadbury's sees strong sales growth * France, Libya sign deals worth billions * Markets...
Experts have announced April 30 as the estimative day to exclude the common and preferred shares of RAO UES from market indexes due to the reorganisation of the electricity giant. The split of the...
SABMiller is confident it can continue to pass on price rises to consumers to offset soaring commodity costs. Malcolm Wyman, CEO of SABMiller, spoke to CNBC about the outlook.
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