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Upshares Downshares: the Gas Graph.

Eddie Mair | 16:44 UK time, Thursday, 22 January 2009

graph2.GIF
Graph by Bloomberg. Wholesale gas price (1 month ahead)

"The graph indicates the price that companies like British Gas have been paying for gas over the past year. In January 2008 a unit of gas cost about 55p and the average annual British Gas bill was £568

Then the wholesale price soared to 83p a unit, and British Gas responded by increasing prices by 15% and then 35%

Today gas is back down to 55p a unit - the same as a year ago, but even after today's 10% cut the average bill will still be £794 - some 40% higher than a year ago.

A lot of numbers - but that pretty much sums up the average gas bill."

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