Energy suppliers are increasing the price of power for new customers, industry experts have warned.
Figures reveal that wholesale costs have risen by 45 per cent over the past three months, forcing energy suppliers to increase the price of gas and electricity.
EDF Energy, E.ON and npower have increased the cost of their best deals for those who switch energy tariffs or have made their terms less attractive. EDF has replaced its Annual Fix version two with a more expensive deal under which dual fuel (gas and electricity) is up by five per cent.
Meanwhile, E.ON has replaced its FixOnline version eight tariff with the Save Online version two. Prices are the same under the new tariff but they are not fixed anymore, which means that they could rise further in the future.
In May, npower increased prices for tens of thousands of existing customers, with gas prices up by 3.2 per cent, while Ovo Energy retracted its then table-topping deal.
If you want to find out more about your energy options and how you could save up to £378 in minutes, click here.