Centrica boss warns of extra £100 energy costs facing UK households
UK households will face £100 in extra costs following the collapse of multiple small energy firms, warns Chris O’Shea, chief executive of British Gas owner Centrica.
Speaking to a House of Lords committee, O’Shea said, “The current retail market failures will put £100 on the bills of every single home in the UK.
The CEO argued that if these costs on bills were put on households at a flat rate then the energy transition will hit the poorest people the hardest.
He explained, “Whether that is a house in Belgravia or a studio flat in a deprived area of Glasgow, it will be the same amount – and that is the same with the policy costs at the moment.
He also called for “regressive” taxes related to the green energy transition to be scrubbed from bills.
More to follow…