BRITISH GAS ACCEPTS FORMULA FOR SETTING GAS PRICES

British Gas plc (BG) has accepted the U.K. government's Office of Gas Supply (Ofgas) proposals on a formula that will control gas prices for 17 million customers for 5 years effective Apr. 1, 1992. The formula covers gas supplies to all U.K. customers using less than 2.5 billion BTU/year. That includes residential customers and most small industrial and commercial customers. The revised formula sets a limit for increases in gas prices based on a changed approach to the cost of gas supplies

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