Just one week after an increase to the energy price cap was announced, three major power companies have said they would raise prices for customers. Eon was the first to announce it would up prices to the maximum amount permitted from April, when the level of the price cap on standard and default tariffs changes.
Eon announced its price rise just two working days after energy regulator Ofgem confirmed it was raising the cap. EDF Energy and Npower followed suit within two days. Both will also charge customers who use a medium amount energy £118 more per year than they currently do.
From 1 April, energy companies are permitted to charge customers who use a medium amount of gas and electricity £1,254 per year on average. At the moment, they can charge the same customers up to £1,137 per year. Being on a price-capped tariff doesn’t protect you from price increases. With more companies expected to follow suit and announce price rises, you could save up to £348 per year by switching.
Being on a price-capped tariff doesn’t protect you from price increases. With more companies expected to follow suit and announce price rises, you could save up to £348 per year by switching.
Will my energy supplier raise prices? So far, we know that the following energy firms plan to increase their prices from 1 April. Here we’ve listed those companies, as well as how much they will charge a medium user.
Read more: https://www.which.co.uk/news/2019/02/energy-price-cap-one-week-on-three-firms-to-raise-gas-and-electricity-prices/ – Which?