Another energy supplier unveils price increases

A second supplier has unveiled price increases on an energy ‘tracker’ plan – npower has announced that it is putting prices up by 17% for gas and 13% for electricity from 1st January, 2008.

Its move mirrors the announcement made by British Gas only last week.

Tim Wolfenden, Head of Home Services at uSwitch.com, says: “Suppliers are paving the way for across the board price increases. Today’s move can leave consumers in no doubt that prices are heading North again – the return of the £1,000 average energy bill is imminent. The only question now is which supplier is going to break ranks first and put up prices on standard plans.

“The size of the increases being made to wholesale tracker plans may also give an indication of what we can expect when suppliers start to put prices up on their standard plans. It’s increasingly looking like the smart money should be on a 15% increase, which would mean consumers having to find an extra £137 a year to pay their bills.”