Millions of households whose energy is supplied by E.on will see price rises from 26 April, it’s been announced today.
Average dual fuel users will see prices rise by 8.8%. Electricity prices will increase by an average of 13.8% while gas prices will rise by an average of 3.8%.
The move affects 2.5 million customers, although prepayment customers – those who pay for their energy in advance using a meter – are not affected.
E.on blames the price hikes on the “increase of around 36% in the cost of supporting various social and environmental reforms”.
The Big Six provider froze standard variable prices in December, which it said would last until “at least” April 2017.
Commenting on the changes Tony Cocker, chief executive of E.on UK says: “This is the first time since January 2014 that we have increased our standard variable prices. It is an announcement we never want to make but is due in large part to the fact that many of the costs we don’t directly control, such as policies including EMR, RO and the Energy Company Obligation (ECO), which are paid for via people’s energy bills, are increasing. We have been able to partially offset some of these rises through our wholesale hedging policy and other means, but we do have to make an increase.”
Check if you can save by switching
Whenever prices rise the message is to always check if you can switch and save by putting your details into an energy comparison website.
You could save £100s given the cheapest tariff on the market.
Stephen Murray, energy expert at MoneySuperMarket, says: “Most UK households are on standard variable tariffs, which are the very tariffs many suppliers are now increasing. Average prices for these are now over £200 more expensive per year than the best fixed deals on the market so the message has never been clearer: take control of your energy bills and switch.
“There are significantly cheaper deals to be had but some of these might not be around for long, so it’s important to act fast.”
Are other energy providers upping prices?
Here’s what the Big Six energy providers are doing:
- British Gas: Frozen standard variable prices until August
- EDF: Cut gas bills by up to 12.9% from 6 January but is upping electricity prices by up to 8.4% from 1 March
- Npower: Announced average hikes of 10% from 16 March
- Scottish Power: Announced electricity prices will rise by an average of 10.8% while gas prices will go up by 4.7% on average from 31 March
- SSE: Frozen standard variable tariff until April 2017