Energy firm E.On to raise prices
August 21, 2008
Energy firm E.On is to raise gas prices by 26% and electricity prices by 16% on 22 August.
It is the third of the big six energy companies to increase prices for domestic customers during the summer.
It blamed an increase in wholesale costs, which it said had risen by more than 51% since February, for the latest rise - the second in a year.
EDF Energy and British Gas raised their prices for domestic customers in July, and others are expected to follow suit.
'Tough time'
Graham Bartlett, managing director of E.On's retail business, said that the company had tried to keep the increases as low as possible to protect customers.
"I'm very aware of the effect that today's announcement will have on our customers and I recognise that this is a very tough time for everyone," he said.
This is E.On's second price rise for domestic customers this year. In February it put up gas bills by 15% and electricity tariffs by 9.7%.
In July, EDF Energy put up gas prices by 22% and electricity prices by 17%. Shortly afterwards, British Gas put up gas bills by a record 35% and electricity tariffs for its customers by 9%.
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