Energy costs set to rise in 2008
Published On 4 January 2008
It looks like the nation will be paying more for their energy during 2008, as npower has announced it will be raising its tariffs from tomorrow (January 5th).Britain's fourth largest energy supplier has revealed that prices will go up by an average of 17.2 per cent for gas and 12.7 per cent for electricity.
The news follows the price of oil breaking the $100 a barrel mark earlier this week and other energy providers are expected to follow suit.
"By announcing price increases today, npower has given the other suppliers the green flag they’ve been waiting for," said Tim Wolfenden from site uSwitch.
"The coast is now clear for a general price hike and energy bills can be expected to top £1,000 again - consumers are going to be in for a rough ride this year."
The comparison site also criticised energy companies for being "slow to pass on price cuts, but quick to put prices up".
