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| E.On to lift UK gas prices by 15% | |
| (about 2 hours later) | |
| Energy provider E.On is to increase gas prices by 15% and electricity prices by 9.7%, with effect from 8 February. | Energy provider E.On is to increase gas prices by 15% and electricity prices by 9.7%, with effect from 8 February. |
| The German-owned company is the latest of the big utility providers to increase prices. | The German-owned company is the latest of the big utility providers to increase prices. |
| It has blamed a 60% increase in wholesale prices since February for the rise in customers' bills. | It has blamed a 60% increase in wholesale prices since February for the rise in customers' bills. |
| But 670,000 vulnerable customers will have the increase delayed until 1 April, said the company formerly known as Powergen. | But 670,000 vulnerable customers will have the increase delayed until 1 April, said the company formerly known as Powergen. |
| The energy giant is the fifth big energy provider to announce double-digit rises, after similar moves in recent weeks by British Gas, Npower, EDF and Scottish Power. | The energy giant is the fifth big energy provider to announce double-digit rises, after similar moves in recent weeks by British Gas, Npower, EDF and Scottish Power. |
| 'Sustained pressure' | 'Sustained pressure' |
| Graham Bartlett, managing director of E.On Energy, said: "We realise the impact this price increase will have on our customers and we're doing everything we can to minimise this. | Graham Bartlett, managing director of E.On Energy, said: "We realise the impact this price increase will have on our customers and we're doing everything we can to minimise this. |
| E.On's customers didn't have long to wait for their share of the price pain. Adam Scorer, Energywatch campaigns director | E.On's customers didn't have long to wait for their share of the price pain. Adam Scorer, Energywatch campaigns director |
| "Our announcement has been made in response to sustained pressures from the wholesale market. | "Our announcement has been made in response to sustained pressures from the wholesale market. |
| "We are offering a new product to allow more customers to join the half a million already benefiting from protected prices, while also helping those customers who are most in need." | "We are offering a new product to allow more customers to join the half a million already benefiting from protected prices, while also helping those customers who are most in need." |
| Age Concern and prepayment meter customers' prices will remain unchanged until 1 April. | Age Concern and prepayment meter customers' prices will remain unchanged until 1 April. |
| Big six | Big six |
| The industry is dominated by the 'big six' energy providers. | The industry is dominated by the 'big six' energy providers. |
| Rivals British Gas - the UK's biggest power provider - increased gas and electricity prices by 15% in January. | Rivals British Gas - the UK's biggest power provider - increased gas and electricity prices by 15% in January. |
| In the same month, Npower raised its electricity prices by 12.7% and its gas prices by 17.2% and EDF Energy also put up its electricity tariffs by 7.9% and gas bills by 12.9%. | In the same month, Npower raised its electricity prices by 12.7% and its gas prices by 17.2% and EDF Energy also put up its electricity tariffs by 7.9% and gas bills by 12.9%. |
| Most recently, Scottish Power increased gas bills by 15% and electricity bills by 14%. | Most recently, Scottish Power increased gas bills by 15% and electricity bills by 14%. |
| Scottish and Southern Energy has announced it will not raise prices until April. | Scottish and Southern Energy has announced it will not raise prices until April. |
| 'Price pain' | 'Price pain' |
| Consumer watchdog Energywatch said the increases were "depressingly similar" to those of the other suppliers. | Consumer watchdog Energywatch said the increases were "depressingly similar" to those of the other suppliers. |
| German-owned E.On was formerly known as Powergen | |
| "E.On's customers didn't have long to wait for their share of the price pain," said Energywatch director of campaigns, Adam Scorer. | "E.On's customers didn't have long to wait for their share of the price pain," said Energywatch director of campaigns, Adam Scorer. |
| "You can hardly put a pin between the suppliers' percentage rises. The actual difference between the direct debit, dual fuel prices of the suppliers who have raised prices remains at just £13. | "You can hardly put a pin between the suppliers' percentage rises. The actual difference between the direct debit, dual fuel prices of the suppliers who have raised prices remains at just £13. |
| "All the companies have quoted different percentage rises in wholesale gas costs, all the companies have different electricity generation they all have different hedging strategies, yet they come within £13 of each other on a £1,000 bill." | "All the companies have quoted different percentage rises in wholesale gas costs, all the companies have different electricity generation they all have different hedging strategies, yet they come within £13 of each other on a £1,000 bill." |
| He welcomed a decision earlier in the week by a select committee of MPs to launch an inquiry into customer bills and the energy market. | He welcomed a decision earlier in the week by a select committee of MPs to launch an inquiry into customer bills and the energy market. |
| "Government needs to be very clear about what it expects from energy companies in terms of support for their vulnerable consumers." | "Government needs to be very clear about what it expects from energy companies in terms of support for their vulnerable consumers." |