Npower increase gas and electricity prices
January 7, 2008 by credit4everyone
Filed under news
Energy firm Npower has announced double-digit rises in the price its domestic customers will have to pay for gas and electricity - with industry observers saying that other companies are likely to follow suit. So is now the time to reconsider who provides your energy?
Chancellor Alistair Darling asks to meet the energy regulator Ofgem to discuss gas and electricity price rises.
In a letter to Ofgem, Mr Darling said he wanted to review the reasons behind the price rises and their implications.
Npower, which has increased average gas prices by 17.2% and electricity by 12.7%, expects rivals to follow suit.
The company, the UK’s fourth-largest energy supplier, blamed the price rises on soaring wholesale costs.
Record oil costs
Wholesale energy prices have risen by 66% for electricity and 60% for gas since last year, said Npower, which has four million UK customers.
I think the rise in business electricity prices is having a terrible effect on all sorts of businesses along with the credit crunch but there is still some better deals out there if you look in the right places.