Npower hikes home energy prices affecting a million customers
Following the trend laid out by EDF and British Gas, Npower has increased its dual fuel energy prices by 5.3pc. The rise has been blamed on the increase in wholesale energy and policy costs.
Coming hard on energy suppliers, Ofgem has got through new legislation which will allow it to cap the standard variable tariffs which is currently utilized by 11 million customers.
Npower Spokesman said, “Announcing this price change today isn’t a decision we’ve taken lightly”
“The costs all large and medium energy suppliers are facing – particularly wholesale and policy costs which are largely outside our control – have unfortunately been on the rise for some time and we need to reflect these in our prices.”
Please note, to help customers, the company is freezing prices for fixed-term customers until June 2022.
Prior to the announcement by Npower, British Gas announced it would hike prices for its dual tariff by an average of 5.5pc, affecting 4.1million customers.
In essence, whatever the scenario of the energy market, customers can still save themselves hundreds of pounds if they choose to switch energy suppliers. To do so, rely on energy price comparison site FreePriceCompare. Check the cheapest energy quotes online and make a quick switch to a cheaper gas and electricity provider.
Alternatively, you can speak to our friendly team of UK based energy advisors on 0203 9159 088.