Npower Becomes Third Supplier To Raise Prices
Another Big Six Price Rise
The third energy supplier to increase their prices by £117 has been announced as Npower.
This means that three of the ‘Big Six’ energy companies have now raised their prices in line with the price cap increase.
This increase will occur from April 1st, and non-surprisingly is also £117^. This increase takes the default bill cost to the maximum amount allowed by the price cap (£1254^).
Everyone on the Npower default tariff will be affected by the price rise, meaning around a million customers will be hit.
Both E.ON and EDF have already announced their price hike earlier this week, and these are expected to be followed by a wave of price increases across energy suppliers, particularly from the rest of the Big Six.
Victoria Arrington, spokesperson at energyhelpline, says, “Just a week after the announced change to the price cap, all three Big Six suppliers have raised their variable tariff by £117^, or 10% - exactly the same amount as the price cap will go up on 1st April this year. An average variable tariff bill from Npower will now cost £1254^ per year – over £100 per month.
“Energyhelpline expects that these price rises are just the beginning, and the other Big Six energy suppliers will follow soon with a price hike announcement. The price cap still does offer some protection to consumers, but for many vulnerable households, these high energy bills are simply not sustainable.
“Customers are not going to put up with these ongoing hikes for much longer, and with the increasingly popularity of switching quickly and easily online, they simply don't have to. If your one of those affected by costly energy bills, please take a moment to find the best energy deal you can. It could make a worthwhile difference in your finances, with those who switch saving £300* on average.”
*Average saving of £300 per year calculated with average usage and after the price cap increase to £1254 on April 1st 2019.
^Averages are calculated for a typical usage home taking gas and electricity and paying by monthly direct debit. Usage for a typical home as per OFGEM guidelines: Gas 12,000 kWh pa and Electricity 3,100 kWh pa.