Npower prices up – time to change to a cheaper home energy utilities supplier?
Npower prices will be raised from 16th March 2017. One of the big six energy providers, Npower, said the rise in dual fuel bills would affect about half of its customers, or 1.4m households. From 16 March, it will raise electricity prices by an average of 15% and gas prices by 4.8%. Other big six providers are expected to follow with increases.
“Npower has blamed the rise on the increased cost of buying energy in global markets – but they weren’t so quick to reduce energy bills when wholesale prices were low.”
Energy regulator – Ofgem said it does not see “any case” for significant price increases where suppliers have bought energy in advance, and asked for the firm to justify its decision.
An Ofgem spokesman said: “Our new supplier cost index shows that costs for energy suppliers have risen over the past year after having fallen for the previous two to three years. However, we don’t see any case for significant price increases where suppliers have bought energy well in advance. Npower must therefore justify the decision to its customers.”
A spokesman for Theresa May spokesman said the Government was “concerned” about the move.
Three other ‘big six’ suppliers – SSE, British Gas and SSE said that that would keep prices at the same rate until the end of March. Scottish Power raise their prices.