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Now could be the time to fix as Npower hits customers with another energy price rise

21 October 2013
  • Increase of 10.4% in energy prices to add £135.71* a year to average dual fuel bill - from £1,304.87 to £1,440.58
  • Cost of electricity to rise by 9.3%, and gas prices to leap by 11.1%

Npower is the third ‘big six' energy provider to announce price hikes in time for gas and electricity use to hit its peak during the winter months, affecting approximately 3.1 million customers.

SSE dealt consumers the first blow by announcing an 8.2% energy price rise on 10 October, followed one week later by the UK's biggest energy company, British Gas, who went one better, doling out a 9.2% increase to its hard-pressed customers.

Now Npower has announced an even bigger price rise of 10.4%, which is due to take effect from 1 December, adding £135.71 to the average customer's annual dual fuel energy bill.

Effect of winter energy price rises so far**

Supplier

Annual bill in August 2013

Price rise (%)

Annual bill after winter 2013 price rises

Difference (£)

British Gas

£1,311.48

9.2%

£1,432.14

+£120.66

SSE

£1,308.17

8.2%

£1,415.44

+£107.27

Npower

£1,304.87

10.4%

£1,440.58

+£135.71

E.ON

£1,315.33

TBC

TBC

TBC

EDF Energy

£1,291.55

TBC

TBC

TBC

Scottish Power

£1,319.70

TBC

TBC

TBC



Jeremy Cryer, energy spokesperson at price comparison website Gocompare.com, said: "The floodgates have been well and truly opened, and with Npower's price rise now confirmed, we're half way towards a full-house of price rises from the big six energy providers.

"Winter price hikes are unwelcome, yet unfortunately entirely predictable. But it's not over yet, and Scottish Power, E.ON and EDF will surely reveal their price hikes soon too. People who are concerned about their energy bills need to act now to find a better deal, and should strongly consider moving to a fixed tariff.

"There are dual fuel tariffs available at the moment from EDF and Scottish Power that are fixed until March 2017 and January 2017 respectively, and many others that allow you to fix well into 2015. Fixing, particularly long term, can be a gamble as you won't benefit if any price reductions are introduced, but if you're after consistent energy bills these sorts of tariffs mean that you needn't worry about further price hikes for some time.

"Comparing tariffs from the big six energy companies, and the multitudes of other gas and electricity suppliers available, takes just minutes using a price comparison site, so it's disheartening that just 14% of people have switched energy in the last year***. These winter price hikes are further proof, if it were needed, that the best way to take control of how much you spend on gas and electricity is to shop around regularly."

For more information or to compare gas, electricity and dual fuel tariffs today, visit: www.gocompare.com/gas-and-electricity/.

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Notes to editors:

*Based on a medium user (3,300 kWh of electricity and 16,500 kWh of gas per year)

**Based on a medium user (3,300 kWh of electricity and 16,500 kWh of gas per year), with a dual fuel standard tariff; averaged by payment method (monthly direct debit, cash and cheque, or on receipt of bill); and averaged across all regions

***On 12th - 13th June 2013, Vision Critical conducted an online survey among 2,002 randomly selected British adults who are Springboard UK panellists. The margin of error-which measures sampling variability-is +/- 2.2%. The results have been statistically weighted according to the most current education, age, gender and regional data to ensure samples representative of the entire adult population of United Kingdom. Discrepancies in or between totals are due to rounding.