(Bloomberg) -- Britain’s biggest energy companies can’t agree on what the U.K. needs to do to soften the blow of soaring bills for customers, making it harder for the government to tackle a cost-of-living crisis.Most Read from BloombergMicrosoft Buys Scandal-Tainted Activision in Bet on MetaverseFourth Pfizer Dose Is Insufficient to Ward Off Omicron, Israeli Trial SuggestsCovid-19 Infected Lions Prompt Variant Warning in South AfricaMicrosoft Deal Wipes $20 Billion Off Sony's Market Value in a D
Chris O’Shea said he suspects the prices will stay high for at least the next 18 months.
LONDON (Reuters) -Centrica, the owner of British Gas, said natural gas prices will remain high for up to two years so the government should target help towards the poorest customers who will struggle with a 50% rise in heating bills. A rapid rise in gas prices in Europe in 2021 has sent power prices soaring, driving up inflation and triggering the collapse of over 20 energy suppliers in Britain's liberalised consumer electricity and gas market. "The market suggests the high gas prices will be here for the next 18 months to two years," Chris O'Shea, chief executive of Centrica, told the BBC.