May 30, 2018 / 8:26 AM / 22 days ago

SSE to raise standard electricity and gas prices

(Reuters) - Britain’s SSE (SSE.L) said on Wednesday it would raise its standard electricity and gas prices, leading to a 6.7 percent increase on average to a typical dual fuel bill.

FILE PHOTO: An SSE company logo is seen on signage outside the Pitlochry Dam hydro electric power station in Pitlochry, Scotland, Britain, November 8, 2017. REUTERS/Russell Cheyne/File Photo

The price rise, effective from July 11, reflects the impact of higher wholesale and policy costs, SSE said.

Power suppliers in Britain have been under pressure from the emergence of small, cut-price rivals, as well as the cap on retail prices proposed by Prime Minister Theresa May’s government.

SSE said the price rise equates to an increase of 5.7 percent for gas and 7.7 percent for electricity, meaning 2.36 million customers with SSE Energy Services and M&S Energy will see their bills go up by about 1.50 pounds per week, or 76 pounds per year.

Reporting by Arathy S Nair in Bengaluru; Editing by Mark Potter

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