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E.ON’s 9% price increase to affect 2.5 million customers

Latest big six price hike means 7.2 million energy customers total to see price rises this year

cold winter snow

E.ON announced today that it would be hiking prices on dual fuel standard variable rate plan customers by 9% on average — roughly a £97 per year increase.

These new higher prices will take effect 26 April 2017.

Price rise breakdown – how will E.ON customers be affected?

Amidst a flurry of price rise activity from energy suppliers — including npower, ScottishPower, EDF Energy, First Utility and The Co-operative Energy — E.ON is the latest energy provider to announce it would raise prices this year:

  • Gas-only customers not on a fixed rate plan will be hit with an increase of 4%
  • Electricity-only customers not a fixed rate plan will see an increase of 14%
  • All dual fuel customers not on a fixed rate plan will be hit with an increase of 9%, or £97 more per year

‘Beyond our control’

The supplier, while noting that this is their first price increase in three years, stated that the price change was due in part to “costs it doesn’t control.”

Also partly to blame, according to E.ON’s statement, were increasing policy costs for things such as social and environmental schemes.

In an attempt to offset the impact to its 2.5 million effected customers, the big six supplier stated that it would send personalised quotes to potentially vulnerable customers to notify them of their cheapest tariff.

A ‘crippling blow’ to 7.2 million energy customers

Five major suppliers have  now announced prices rises, impacting a whopping 7.2 million UK energy customers.

These households will collectively be paying more than £530 million more on their gas and electricity in 2017.

“This is a crippling blow to energy customers and only serves to pile further pressure on household budgets, many of which are already at a tipping point,” says Emma Bush, energy expert at uSwitch.com.

“While E.ON should be commended for their plans to reach out to its most vulnerable customers, millions will still be affected by this news.

“As usual, it’s the customers already overpaying on the their energy — those sitting on poor-value standard tariffs — who are being hit the hardest.”

Energy customers are urged to compare energy prices to find the best deal for them.

Energy suppliers’ price rises in 2017 so far

Supplier Previous SVT price New SVT price Difference No. of customers affected Total impact on bills Comes into effect from:
EDF Energy £1,069 £1,082 £13 1,943,277 £25.3m 1st March
npower £1,077 £1,187 £109 1,400,000 £152.6m 16th March
ScottishPower £1,081 £1,167 £86 1,100,000 £94.6m 31st March
Co-operative Energy £1,121 £1,179 £58 96,158 £5.6m 1st April
First Utility £1,047 £1,149 £102 117,000 £11.9m 1st April
E.ON £1,057 £1,154 £97 2,500,000 £242.5m 26th April
British Gas £1,044 £1,044 Prices frozen until August
TOTAL: 7,156,435 £532.5m

Source: uSwitch.com correct as of 7th March, 2017

All bills paying by direct debit on Ofgem medium consumption.

 

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