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Npower to increase dual fuel prices by 12.2%
Wednesday 17th August, 2011
By Martin Fagan - editorial@consumerchoices.co.uk
npower becomes fifth of “big six” to increase prices in past two months
Npower is the fifth of the “big six” energy suppliers in the last two months to announce an increase to its prices.
From Saturday 1 October, npower will increase standard dual fuel prices by 12.2%. For customers who take a single fuel, the average increase will be 15.7% for gas and 7.2% for electricity.
Npower claims its increases are the lowest announced by any major supplier.
In early June, Scottish Power said it would raise the cost of gas by 19% and the cost of electricity by 10%.Two weeks later, British Gas's announced an 18% rise in gas prices and a 16% increase to electricity prices.
In July, Scottish and Southern Energy (SSE) said it would increase prices for electricity by an average of 11% and gas by 18%, effective on 14 September 2011 and earlier this month, E.ON announced it plans to raise gas prices by 18.1%, while electricity prices will go up by 11.4% from 13 September
"I know it hurts everyone when we put up prices and I wish we didn’t have to," said Kevin Miles, chief commercial officer, at npower.
“In the UK we have also seen rising distribution charges and further environmental costs but we have still managed to keep our increases lower than those announced by any other major supplier,” he added.
The only one of the “big six” suppliers yet to announce a price increase is EDF Energy. However, news that EDF Energy is pulling its cheapest fixed price energy plan from the market has been interpreted as a sign of an imminent price hike.
Historically, when an energy supplier quietly withdraws its cheapest or most competitive fixed plans from the market, price rises have been swift to follow.
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