The latest price change announcement from npower saw the big six supplier dropping its standard variable tariff rates to £1,179, the new level of energy regulator Ofgem's price cap.
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The price drop, which equates to a 6% average annual reduction for around 1 million npower customers, came into effect on 1 October 2019.
The npower price drop affected those on a standard variable rate energy tariff from the big six supplier — including those who have let their fixed energy plans lapse and have been placed on npower's default tariff.
Though prices have dropped, npower has tended towards raising its prices in recent months:
- In February 2019, npower raised its prices for those on standard variable tariffs to the initial price cap level of £1,137
- In June 2018, npower raised its standard variable tariff dual fuel rates by 5.3%, which constituted a £64 rise for customers
What can I do about the npower price change?
If you're currently on an npower standard variable rate plan — either dual fuel, gas only or electricity only - your prices will have dropped by an average of £75 from 1 October 2019.
It's always a good idea to compare the energy market on a regular basis and ensure you're on the cheapest deal possible. Standard variable rate tariffs are often more expensive than fixed plans, meaning it can pay to check you're always on the best possible deal.
You can stay up to date with the latest news from the energy market here and compare energy deals to find the cheapest rate for you.
Which suppliers have raised their prices in 2020?
There haven't been any large-scale price changes so far in 2020, but that's likely to change when th energy price cap is next reviewed in February.
You can read about previous price changes from the big six below:
Will npower change its prices in 2020?
It's difficult to predict how any energy company will act when it comes to raising or freezing its prices.
However, when the energy price cap is next reviewed in February 2020, suppliers will need to amend their prices to make sure they don't exceed the maximum level set by the cap. It's yet to be determined whether the cap will increase or decrease for 2020.
If you have been affected by an energy price change, then run a energy comparison to see if you can save on your bills.