The Big Deal: “Npower’s price rise will cost consumers £190 million more a year.”
Today (3rd February) Big Six energy supplier Npower said they will increase the typical dual fuel (electricity and gas) energy bill by 9.8% – a £109 increase a year. Npower has 1.74 million customers on their standard tariff. That means consumers will be paying £190 million more a year because of this price rise.
Responding to Npower’s price rise, Ed Molyneux, Head of Research for consumer collective TheBigDeal.com, said:
“1.74 million customers will be affected by this outrageous price rise costing a total of £190 million. When wholesale prices fell people never saw cuts in their prices as big as this rise. Once again the Big Six are putting their profits before their customers.
Today’s announcement shows that if you’re not on a fixed deal you simply have no control over the price you pay for your energy. More Big Six price rises are on the cards. If you’re on a Big Six standard tariff you need to switch as soon as possible.”
Notes for editors
BBC say that price increase will mean the average dual fuel bill goes up £109 a year. http://www.bbc.co.uk/news/business-38852517
Ofgem stats say that 1,737,642 (60%) of Npower’s customers are on the standard tariff. https://www.ofgem.gov.uk/consumers/household-gas-and-electricity-guide/understand-your-gas-and-electricity-bills/energy-plans-what-standard-variable-rate-tariff-and-how-does-it-compare