Npower have announced that as of 16th March 2017 they will be increasing their energy prices for the first time since 2013.
The increase will affect nearly 50% of customers, with standard tariff electricity and gas prices rising by 15% and 4.8% respectively. Dual tariff customers will also see their annual bill rise by 9.8%, or £109, on average.
The changes are thought to be the largest price increases in recent years. Indeed, the increase in electricity prices is thought to be the largest since 2008; and the rise in dual fuel price is the largest for a ‘Big 6’ supplier since 2013, according to Uswitch.
Although Npower have blamed their price increase on wholesale energy price increases, Ofgem has said that suppliers could easily avoid consumer price increases by buying energy at forward prices.
To compensate for this price increase, Npower will be offering its standard tariff customers a new four-year fixed price tariff with a 4.8% discount and no exit fee.
If you’re impacted by Npower’s price increases, it might be time to consider switching your energy supplier. Join our energy club before February 13th to get access to the power of collective switching and benefit from exclusive energy deals. Learn more here!
Last updated: Tuesday, 7 February 2017
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