Npower said today it would hike prices for customers on its standard variable tariff by 10 per cent following the introduction of Ofgem’s price cap.
The regulator said last week it would increase the government’s energy price cap, which was meant to save customers from rip off deals, by £117.
Read more: Ofgem price cap: What to do if your energy bills shoot up
Npower customers who pay direct debit on its standard variable tariff will see the cost of a typical dual fuel energy bill increase 10.3 per cent or £117 a year on average from 1 April.
The company said: “Our gas and electricity prices are changing because of the price cap, which has been put in place to protect customers on default tariffs, or on tariffs with (or linked to) standard variable rates.”
Npower is the third of the big six energy suppliers to increase its prices since Ofgem raised the price cap, following E.on and EDF.
Read more: Eon front of the queue as energy suppliers eye price rises
Alex Neill, managing director of home services at consumer group Which, said: “This is the third price increase announcement in quick succession with the rest of the big six expected to follow suit. People who thought that the price cap would protect them from rising bills will be bitterly disappointed by these hikes.
“We would urge all energy customers to take the power back into their hands by switching and securing a better deal before the new cap comes into effect in April. While there are fewer cheap deals on the market than a year ago, by switching today you could choose better customer service and potentially save almost £300 a year compared to the forthcoming price cap level.”
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