Another energy company hikes up prices
February 10, 2008
Just as a specialist committee has launched an investigation into the price hikes applied by energy companies in the UK another of the UK’s energy giants has announced that its prices will be going in a matter of days, joining the other big 4 that have already announced significant hikes in the cost of gas and electricity usage. Like the other energy firms that have already hiked up prices, E.On has blamed the need to raise prices on increases in wholesale energy prices.<!–more–>
E.On will be raising prices on gas usage by 15% and the cost of electricity usage will go up by 9.7%. The company, which was formerly known as Powergen, has said that whilst the new pricing comes into effect on 8th February, around 670,000 customers classed as vulnerable would not have to pay the new prices until April. E.On is the latest of the energy giants to announce hikes, and price rises have already been announced by British Gas, Npower, EDF and Scottish Power.
An official from E.On stated: “We realise the impact this price increase will have on our customers and we’re doing everything we can to minimise this. Our announcement has been made in response to sustained pressures from the wholesale market. We are offering a new product to allow more customers to join the half a million already benefiting from protected prices, while also helping those customers who are most in need.”
In the meantime a committee of MPs in investigating whether consumers are paying too much for energy in the UK, with one committee official stating: “The continuing controversy over energy prices is an issue that demands to be addressed. It is a complex but vital question and one that affects everyone in the country, individual consumers and households, small businesses and major energy users alike.”
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