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Date: Friday 18 Jul 2008

LONDON (ShareCast) - Average gas bills could rise by as much as 60% to £1,000 annually over the next few years according to a new report commissioned by British Gas owner Centrica.

Jake Ulrich, Centrica's managing director, said that gas prices were likely to "continue rising for some time."

"I think it is going to hit people hard," he said. "I do think we will see people change their behaviour, and people will change the temperature they keep the house, they'll be more cognisant of energy waste, they'll buy better appliances."

The report, by energy consultant Eclipse, added that continuing high oil prices would also lead to big rises in the cost of electricity and blamed the link between gas and oil prices and dwindling UK production.

As output falls, the UK is becoming more dependent on imports from Europe and Asia, where the gas price moves closely in line with the price of oil. It is estimated that Britain will import 40% of all the gas it needs this year.

"We're part of a world economy and I don't think we can rely on UK production or cheap gas, cheap energy of any sort any more. I think it's a reality not only in the UK but in Western Europe and North America. Energy is going to become relatively much more expensive in the future," Ulrich said.

Eclipse managing partner John King added: "This report signals the significant change that the UK will go through over the next few years as the price of the UK gas market becomes influenced by factors across the globe."

Independent observers have already predicted big hikes in prices this year because of the surging cost of oil.

Price comparison site USwitch predicts prices will rise by a total of 46% this year, taking an average duel gas and electricity bill to over £1,300.

British Gas has refused to comment on the scale of any price rises, but it and its rival are expected to put prices up soon, possibly as early as next month.

• News Channel