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| Version 0 | Version 1 |
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| More firms increase energy bills | More firms increase energy bills |
| (20 minutes later) | |
| Two more energy firms have said they will increase gas and electricity prices, blaming higher wholesale costs. | Two more energy firms have said they will increase gas and electricity prices, blaming higher wholesale costs. |
| Scottish Power said it would raise gas prices by an average of 34% and electricity prices by 9%, effective from Monday 1 September. | Scottish Power said it would raise gas prices by an average of 34% and electricity prices by 9%, effective from Monday 1 September. |
| Soon after, Npower said domestic customers would see an average rise of 14% for electricity and 26% for gas, effective immediately. | Soon after, Npower said domestic customers would see an average rise of 14% for electricity and 26% for gas, effective immediately. |
| E.On, British Gas, EdF and Scottish and Southern Energy have all raised prices. | E.On, British Gas, EdF and Scottish and Southern Energy have all raised prices. |
| Scottish Power said it was "forced to follow other energy providers". | |
| "These are difficult times and we understand the financial impact this announcement will have on our customers," said Willie MacDiarmid, Scottish Power's director of energy retail. | "These are difficult times and we understand the financial impact this announcement will have on our customers," said Willie MacDiarmid, Scottish Power's director of energy retail. |
| He added that the volatility in the gas market was contributing to higher UK domestic prices. | He added that the volatility in the gas market was contributing to higher UK domestic prices. |
| Dual fuel customers will see their bills increase by an average of 25%. | Dual fuel customers will see their bills increase by an average of 25%. |
| Scottish Power also said it planned to spend £40m on steps to help protect vulnerable customers over the next three years. | Scottish Power also said it planned to spend £40m on steps to help protect vulnerable customers over the next three years. |
| The firm, owned by Spain's Iberdrola, is to invest £2.8bn from 2008 to 2010. | The firm, owned by Spain's Iberdrola, is to invest £2.8bn from 2008 to 2010. |
| 'Squeezed' | |
| Npower said: "Today's price rises are due to massive increases in wholesale costs which make current pricing levels unsustainable, following a price decrease in 2007 and an increase at the start of 2008." | Npower said: "Today's price rises are due to massive increases in wholesale costs which make current pricing levels unsustainable, following a price decrease in 2007 and an increase at the start of 2008." |
| "Until today Npower's domestic gas prices were still the same level they were 18 months ago - whereas, during this time, the cost of wholesale gas has doubled," said the firm. | "Until today Npower's domestic gas prices were still the same level they were 18 months ago - whereas, during this time, the cost of wholesale gas has doubled," said the firm. |
| The company also said electricity generation was directly affected by "soaring raw material prices, which have risen by 122% for gas and coal, and 79% for oil, over the last 12 months". | |
| The firm said it took the decision very reluctantly, "especially as household budgets are being squeezed so much at the moment." | |
| This marks the second wave of price rises for both providers since the start of the year. | |
| Scottish Power had increased prices on 1 February while Npower had raised prices on 4 January. |