MILLIONS of Npower customers are to be hit with price hikes of 10 per cent from April 1.
The move will add £117 a year on to the cost of the average standard variable tariff (SVT), taking prices from £1,137 to £1,254.
This will hit 1million customers – around 40 per cent of Npower’s customer base.
Pre-payment meter customers on the Big Six provider’s SVT will also see their prices rise by 9 per cent – or £106 a year.
This will take the average annual tariff price from £1,136 to £1,242.
We’re awaiting confirmation from Npower on how much customers this will affect and we’ll update this story as soon as we get a response.
Npower is the third energy supplier to announce hikes this week’s following energy regulator Ofgem’s announcement that it would be increasing the level of its standard variable price caps.
E.on is hiking gas and electricity bills for 1.8million customers by £117 from April 1, taking its SVT to £1,254 a year.
While, EDF is upping prices for 1.3million customers by £118 a year from April 1, which will also see its SVT rise to £1,254 a year.
The hikes mean these tariffs are nearly £300 more expensive than the cheapest deal, which currently costs £960. See our guide for a rundown of the top 10 cheapest tariffs.
But sadly more hikes are likely to be on the way from other providers, according to energy experts.
Rik Smith, energy expert at comparison website uSwitch.com said: “These announcements are coming like clockwork, shattering the myth that the cap is guaranteeing a good deal for customers on standard tariffs.
“Since Ofgem announced last week that the level of the cap was going up, over four million customers have already been handed a £490million confirmed bill increase, kicking in on 1 April.
“Unfortunately this number is only going to get bigger.”
Stephen Murray, energy expert at comparison website MoneySuperMarket, added: “The others seem sure to follow, meaning that 11million households have higher bills waiting for them come April 1 when the new cap level becomes effective.”
The Sun has contacted Npower for a response and we’ll update this story as soon as we get one.
More on energy bills
Only last month Npower announced plans to axe 900 jobs – a move which it blamed on the energy price cap for eating up profits.
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