Npower, rents, car insurance and credit

One of the UK’s biggest energy suppliers is under fire this morning for hiking the price of gas and electricity by an overall 9.8 per cent.

Npower has announced one of the largest single price rises implemented by a ‘Big Six’ supplier, according to the BBC. The company will raise standard tariff electricity prices by 15 per cent from 16 March, and gas prices by 4.8 per cent. This means that an average dual fuel annual energy bill will increase by £109.

A spokesperson for Ofgem said: ‘Our new supplier cost index shows that costs for energy suppliers have risen over the past year after having fallen for the previous two to three years. However, we don’t see any case for significant price increases where suppliers have bought energy well in advance. Npower must therefore justify the decision to its customers.’