Today the BBC reports that from the 4th January 2011 Npower are set to increase their gas and electricity prices by 5%.
According to the BBC “Npower, which said it would leave its social tariff for vulnerable customers unchanged until April 2011, blamed a 50% rise in wholesale prices in the past 12 months for the increase – its first for domestic customers in two years.”
Chief Executive of Npower Kevin Miles said: “”When wholesale costs are driving prices up it is a good time to review the way you manage your energy”.
The increase is the latest in a number of price rise announcements made by the major energy suppliers in the UK.
Winter price changes
- Scottish Power: gas up 2%; electricity up 8.9% in the last week of November
- Scottish and Southern Energy: gas up 9.4% at the start of December
- British Gas: gas and electricity up 7% at the start of December
- EDF Energy: no change before March 2011
- Npower: gas and electricity up 5.1% in January 2011
- E.On: monitoring situation but no change before January 2011
Ref: BBC News