This article is from the source 'guardian' 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 https://www.theguardian.com/business/2017/feb/03/npower-electricity-gas-price-rises-dual-fuel-bills
The article has changed 4 times. There is an RSS feed of changes available.
| Version 1 | Version 2 |
|---|---|
| Npower electricity and gas price rises will add £109 to typical bill | Npower electricity and gas price rises will add £109 to typical bill |
| (35 minutes later) | |
| Npower is hiking prices for more than a million customers who will see their dual fuel bill rise by an average of 9.8% or £109 a year, in a move that has prompted widespread anger among consumer groups. | Npower is hiking prices for more than a million customers who will see their dual fuel bill rise by an average of 9.8% or £109 a year, in a move that has prompted widespread anger among consumer groups. |
| The “big six” energy provider said the rise would affect about half of its customers, or 1.4 million households. From 16 March, npower will raise electricity prices by an average of 15% and gas prices by 4.8%. | The “big six” energy provider said the rise would affect about half of its customers, or 1.4 million households. From 16 March, npower will raise electricity prices by an average of 15% and gas prices by 4.8%. |
| The company blamed the rise on increases in wholesale gas and electricity costs and the cost of delivering government policies, such as smart metering and subsidies for renewable energy. | The company blamed the rise on increases in wholesale gas and electricity costs and the cost of delivering government policies, such as smart metering and subsidies for renewable energy. |
| Simon Stacey, the company’s managing director of domestic markets, said: “This is a hugely difficult decision, and we have delayed the date this takes effect until after the coldest months of the year. We have also made sure that our most vulnerable customers won’t see any impact until May.” | |
| Consumer groups said the move would put further pressure on household finances and urged energy customers to shop around to get a cheaper deal. | Consumer groups said the move would put further pressure on household finances and urged energy customers to shop around to get a cheaper deal. |
| With average household bills for npower’s dual fuel customers set to go up from £1,077 to £1,187 a year, Claire Osborne, energy expert at the price comparison website uSwitch, said the move was a “bitter blow” for consumers. | With average household bills for npower’s dual fuel customers set to go up from £1,077 to £1,187 a year, Claire Osborne, energy expert at the price comparison website uSwitch, said the move was a “bitter blow” for consumers. |
| “This price rise – the largest single rise from a big six supplier since 2013 – is a bitter blow for consumers who have just come out of a very chilly winter,” she said. | |
| “Npower has blamed the rise on the increased cost of buying energy in global markets – but they weren’t so quick to reduce energy bills when wholesale prices were low.” | “Npower has blamed the rise on the increased cost of buying energy in global markets – but they weren’t so quick to reduce energy bills when wholesale prices were low.” |
| Hannah Maundrell, editor-in-chief of the comparison site money.co.uk, said the price hikes were unfair. | |
| “This is a slap in the face for many already struggling families,” she said. “It is a stark reminder that we all need to be tightening our purse strings to cope with price rises and looking where we can make savings.” | |
| Npower is the second of the big six suppliers to announce price rises, after EDF Energy said in December its standard dual fuel direct debit price would increase by 1.2% to £1,082 a year. | |
| Martin Lewis, founder of MoneySavingExpert.com, said the remaining four of the big six providers were likely to follow and urged consumers to take matters into their own hands by demanding a cheaper deal. | Martin Lewis, founder of MoneySavingExpert.com, said the remaining four of the big six providers were likely to follow and urged consumers to take matters into their own hands by demanding a cheaper deal. |
| “Almost certainly by the end of April we will have seen all the big six firms having hoicked their prices by between 5% and 10%,” he said. | “Almost certainly by the end of April we will have seen all the big six firms having hoicked their prices by between 5% and 10%,” he said. |
| “Do not groan, moan or whinge. Take action. Everybody, with every firm, should make sure they’re on the very cheapest tariff. The best thing to do is a whole-of-market comparison, but even if you’re not willing to do that, call up your existing company and say ‘Am I on your cheapest deal?’ Most people aren’t, and hundreds can be saved just by one phone call.” | “Do not groan, moan or whinge. Take action. Everybody, with every firm, should make sure they’re on the very cheapest tariff. The best thing to do is a whole-of-market comparison, but even if you’re not willing to do that, call up your existing company and say ‘Am I on your cheapest deal?’ Most people aren’t, and hundreds can be saved just by one phone call.” |
| A spokesman for the Department for Business, Energy and Industrial Strategy said the government was concerned about npower’s decision to raise prices. | A spokesman for the Department for Business, Energy and Industrial Strategy said the government was concerned about npower’s decision to raise prices. |
| “This government is committed to getting the best deal for households and is concerned by npower’s plans to increase prices for customers who are already paying more than they need to. Suppliers are protected from recent fluctuations in the price of wholesale energy, which they buy up to two years in advance, and prices remain significantly lower than in 2014,” he said. | “This government is committed to getting the best deal for households and is concerned by npower’s plans to increase prices for customers who are already paying more than they need to. Suppliers are protected from recent fluctuations in the price of wholesale energy, which they buy up to two years in advance, and prices remain significantly lower than in 2014,” he said. |
| “We expect energy companies to treat all their customers fairly and have been clear that, wherever markets are not working for consumers, we are prepared to act.” | “We expect energy companies to treat all their customers fairly and have been clear that, wherever markets are not working for consumers, we are prepared to act.” |
| The government is expected to address concerns about the energy market when it publishes a consumer green paper in the spring. | The government is expected to address concerns about the energy market when it publishes a consumer green paper in the spring. |
| A two-year investigation by the UK’s competition watchdog concluded last June that 70% of domestic customers of the big six companies – British Gas, EDF, E.ON, npower, Scottish Power and SSE – were on expensive standard variable tariffs and could save more than £300 by switching to a cheaper deal. | A two-year investigation by the UK’s competition watchdog concluded last June that 70% of domestic customers of the big six companies – British Gas, EDF, E.ON, npower, Scottish Power and SSE – were on expensive standard variable tariffs and could save more than £300 by switching to a cheaper deal. |
| As a result, customers have been paying £1.4bn a year more than they would in a fully competitive market, the Competition and Markets Authority found. | As a result, customers have been paying £1.4bn a year more than they would in a fully competitive market, the Competition and Markets Authority found. |