This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-38852517
The article has changed 6 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Npower to increase electricity and gas prices | |
| (35 minutes later) | |
| Npower has announced one of the largest single price rises implemented by a "Big Six" supplier. | |
| The company will raise standard tariff electricity prices by 15% from 16 March, and gas prices by 4.8%. | |
| A typical dual fuel annual energy bill will rise by an average of 9.8%, or £109. | |
| Npower said the changes would affect about half of its customers. The other half are on fixed-term deals and will see no price rise. | |
| However, 1.4 million customers on existing standard tariffs will be offered a four-year fixed-price tariff with a 4.8% discount. | |
| The announcement comes after three other suppliers - British Gas, E.on and SSE - announced they would keep prices on hold until the end of March. | |
| EDF cut its gas prices by 5.2% last month, but will raise electricity charges by 8.4% from 1 March. | |
| Npower said it was the first time it had raised prices for three years. | |
| "This is a hugely difficult decision, and we've delayed the date this takes effect until after one of the coldest months of the year," said Simon Stacey, Npower's managing director of domestic markets. | |
| It blamed increases in wholesale energy costs, and the cost of delivering government policies such as smart meters and the renewables obligation. | |
| However, two weeks ago the regulator, Ofgem, told suppliers they should absorb the costs of wholesale price rises by buying energy in advance. |