British Gas owner warns of high energy bills for two years

Soaring energy prices which threaten the living standards of millions could last up to two years, the boss of the UK's biggest energy supplier has said.

Chris O'Shea, chief executive of British Gas owner Centrica, said there was "no reason" to expect gas prices would come down "any time soon".

He said hopes that bills rising by more than 50% to about £2,000 a year would be short-lived may be misplaced.

Rising energy bills have raised concerns over the cost of living.

"The market suggests the high gas prices will be here for the next 18 months to two years," Mr O'Shea told the BBC.