Npower hikes energy prices for more than one million people

Big six energy company Npower has announced today that it is boosting prices for over one million customers by 5.3 per cent.

The energy giant said that the price rises would add £64 to the average dual fuel annual energy bill.

The price hike, which will take effect from 17 June, consists of a 4.4 per cent increase on gas and a 6.2 per cent increase on electricity.

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Simon Stacey, managing director domestic markets at Npower, said: “Announcing this price change today isn’t a decision we’ve taken lightly. The costs all large and medium energy suppliers are facing – particularly wholesale and policy costs which are largely outside our control – have unfortunately been on the rise for some time and we need to reflect these in our prices.”

Alex Neil, managing director of home products and services at Which? said: “Npower already has the most expensive standard tariff available and has come bottom in our satisfaction survey for the eighth year in a row. This further price increase will leave customers questioning why they’re paying even more for their gas and electricity.”

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Stephen Murray at MoneySuperMarket said: “This is a chunky rise from Npower – all we need now is something from SSE and it’s a full house from the Big Six. Npower says 60 per cent of its customers won’t be affected but that still means 40 per cent – or one million people – will.”

Npower’s price increase announcement follows on from others made by its rivals.

Both British Gas and Scottish Power are set to hike bills by 5.5 per cent, affecting more than five million people.

EDF has a 2.7 per cent price increase coming into effect on 7 June for 1.2 million people.