npower to Raise Prices
The energy firm npower has announced that it is to raise its prices by 5.3% (around £64 per year) from June 17 this year (2018). This price hike comes on the back of similar rises by the ‘Big Six’ energy companies that rival npower. For those of you already struggling to pay your utility bills this comes as a massive blow.
Simon Stacey, managing director, domestic markets at npower, said: “Announcing this price change today isn’t a decision we’ve taken lightly.” He explained that the costs energy suppliers are facing are out of their control and have been on the rise for some time “and we need to reflect these in our prices”.
Unsurprisingly, the energy companies are blaming government policies for higher energy bills, particularly blaming smart meter introduction.
This 5.3% price rise is an average rise comprised of a 4.4% gas rise and 6.2% rise in electricity, and will see a typical customer’s annual bill raise to around £1,230! We have to point out that this bill won’t affect everyone – npower state around 60% of people’s bills won’t change – but around a million people should be expected a fairly hefty rise. Those not affected are those with a prepayment meter, people on the Safeguard tarrif, and those currently on a fixed deal.