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| Energy firm E.On to raise prices | Energy firm E.On to raise prices |
| (40 minutes later) | |
| Energy firm E.On is to raise gas prices by 26% and electricity prices by 16% on 22 August. | Energy firm E.On is to raise gas prices by 26% and electricity prices by 16% on 22 August. |
| It is the third of the big six energy companies to increase prices for domestic customers during the summer. | It is the third of the big six energy companies to increase prices for domestic customers during the summer. |
| It blamed an increase in wholesale costs, which it said had risen by more than 51% since February, for the latest rise - the second in a year. | It blamed an increase in wholesale costs, which it said had risen by more than 51% since February, for the latest rise - the second in a year. |
| E.On said dual-fuel customers would see an average annual increase in their bill of £227. | |
| The average annual bill for an E.On customer paying by direct debit would be £1,194 following the latest rise. The average for those paying in other ways would be £1,259, the company said. | |
| Those paying on a pre-payment meter would face an average annual bill of £1,298. | |
| EDF Energy and British Gas raised their prices for domestic customers in July, and others are expected to follow suit. | EDF Energy and British Gas raised their prices for domestic customers in July, and others are expected to follow suit. |
| 'Tough time' | 'Tough time' |
| Graham Bartlett, managing director of E.On's retail business, said that the company had tried to keep the increases as low as possible to protect customers. | Graham Bartlett, managing director of E.On's retail business, said that the company had tried to keep the increases as low as possible to protect customers. |
| Rising wholesale costs have been blamed for the latest price increases | |
| "I'm very aware of the effect that today's announcement will have on our customers and I recognise that this is a very tough time for everyone," he said. | "I'm very aware of the effect that today's announcement will have on our customers and I recognise that this is a very tough time for everyone," he said. |
| This is E.On's second price rise for domestic customers this year. In February it put up gas bills by 15% and electricity tariffs by 9.7%. | This is E.On's second price rise for domestic customers this year. In February it put up gas bills by 15% and electricity tariffs by 9.7%. |
| The German-owned company has 5.5 million customers in the UK. | |
| In the latest round of price rises in July, EDF Energy put up gas prices by 22% and electricity prices by 17%. Shortly afterwards, British Gas put up gas bills by a record 35% and electricity tariffs for its customers by 9%. | |
| Adam Scorer, of watchdog Energywatch, said that the price rises were not a surprise owing to the picture across the industry. | |
| "The brakes have come off the market," he told the BBC. |