As expected, Npower have been the latest of the energy companies to up their prices for a dual fuel bill by 10.4%. This price rise, which is the highest seen so far, will effect homeowners on December 1st.
Npower are the third of the big energy companies who have upped their prices, with SSE then British Gas having risen prices by 8.2% and 9.2% respectively.
The rise of 10.4% is an average that includes electricity having risen 9.3% and a gas rise of 11.1%. The rise in price that will affect around 3.1 million customers will add around £137 to the average annual dual fuel bill, totalling a payment of £1,459.
In the second half of last year, the “big six” energy companies detailed price rises of between 6-10.8%. Paul Massara, the chief executive of Npower has said, “I know that any increases to household bills are always unwelcome and this is not a decision that we have taken lightly. We will continue to take steps where we can reduce the impact of the external influences on energy bills.” (BBC 2013)
Npower stated that there was a natural tendency for prices to move at roughly the same time, as all of the suppliers are faced with the same pressures on costs.
Whilst the energy companies continue to raise prices, the government is still at conflict, with Cameron labelling Miliband’s pledge of a price freeze as a “con” explaining he had no control over the worldwide price of gas.
Now is as good a time as any to switch suppliers to ensure that you are not getting caught up in the domino effect of rising prices, so switch now with Energy Switcheroo.