Comment: ‘Scottish Gas did not take this decision lightly’
YESTERDAY, we announced that, regrettably, gas and electricity prices for Scottish Gas customers will rise by 6 per cent from 16 November.
I know this will be unwelcome news, especially with household budgets across Scotland under pressure. We did not take this decision lightly.
We simply cannot ignore the rising costs that are largely outside our control.
North Sea gas supplies are running out, and we have to pay the going rate for gas in a competitive global marketplace. Prices in the wholesale market for gas this winter are around 13 per cent higher than those paid last winter.
Investment needed to maintain and upgrade the national grid, and the costs of the government’s policies for a clean, energy-efficient future are all going up too.
I know people will wonder why Scottish Gas can’t make less profit and absorb the rising costs. Our profits in the second half of 2012 are expected to be around 15 per cent lower than for the same period of 2011.
• Kevin Roxburgh is managing director of Scottish Gas.
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Saturday 25 May 2013
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