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17/08/2006
Powergen announce further gas and electricity price rises
Powergen has become the lastest major energy supplier to raise prices for its residential customers for a second time this year.
Powergen’s electricity and gas prices will rise by 9.7% and 18.4% respectively for affected residential customers from 21 August 2006. For affected customers, the increase is equivalent to 35p a day for a dual fuel customer.
Nick Horler, Managing Director of Powergen Retail, said: “We take today’s announcement very seriously and have fully considered its impact on our customers."
However, Adam Scorer of Energywatch has criticised the price hike: "Powergen, like all suppliers, may struggle to sustain its profits as a UK retailer, but it has a strong electricity generation business and its parent company (Eon) enjoys bumper profits from the inflated wholesale price of gas."
Over 10% of Powergen customers are unaffected by this announcement as they are currently on capped or fixed price products.
(DS/SP)
Powergen’s electricity and gas prices will rise by 9.7% and 18.4% respectively for affected residential customers from 21 August 2006. For affected customers, the increase is equivalent to 35p a day for a dual fuel customer.
Nick Horler, Managing Director of Powergen Retail, said: “We take today’s announcement very seriously and have fully considered its impact on our customers."
However, Adam Scorer of Energywatch has criticised the price hike: "Powergen, like all suppliers, may struggle to sustain its profits as a UK retailer, but it has a strong electricity generation business and its parent company (Eon) enjoys bumper profits from the inflated wholesale price of gas."
Over 10% of Powergen customers are unaffected by this announcement as they are currently on capped or fixed price products.
(DS/SP)
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Powergen announces price rises
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