Middle East upheaval 'could add money to energy bills' - 25/02/2011
Civil unrest in the Middle East could result in higher bills for cheap gas customers.
In an interview with the Daily Telegraph, Centrica chief executive Sam Laidlaw noted that political upheaval in the oil-rich region could have a strong impact on energy prices here.
"We hope to delay [price hikes] for as long as possible but we've only got to see the volatile events in the Middle East," he explained.
"High oil prices do drag up gas prices. Commodity prices are half the bill but transport and distribution costs have gone up as well. That's why we think the best thing for customers to do is to manage the amount of energy they use."
Mr Laidlaw's comments came after energy supplier British Gas, which is a division of Centrica, announced its annual profits for the year ended December 31st 2010.
The power company saw operating profits rise 24 per cent to £742 million on 2009's total.
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