Tuesday 23 August 2011

NPower joins the rise

npower has become the latest gas and electricity provider to increase its domestic prices with fixed rates for the next two years, blaming the decision on "world events [which] have pushed up prices".

From 1 October, the average dual fuel customer will see an increase of 37p per day. Single fuel customers will see a 15.7% rise in fees for gas and 7.2% for electricity.

Kevin Miles, chief commercial officer at RWE npower – which is part of the RWE group that owns npower – said: "I know it hurts everyone when we put up prices and I wish we didn’t have to.

“With reduced quantities of North Sea gas, we are now forced to buy energy on the volatile global wholesale market. World events have pushed up prices and we believe this trend will continue.

"In the UK we have also seen rising distribution and network charges, and further environmental costs but we have still managed to keep our increases lower than those announced by any other major supplier," referring to companies including British Gas, Eon and SSE.

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