Prices Raised, Cost Drop, Popularity Falls: A Bad Week for Energy Companies

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Npower seem to be first in line for most of the criticism, with Ofgem reporting the commercial energy firm paid on average:

– £59.61 per megawatt-hour in 2010
– £57.32 per megawatt-hour in 2011
– £58.39 per megawatt-hour in 2012

All the while increasing retail prices by 5.1%, 7.2% and 9.1% in those same years, respectively. E.ON and EDF also found to have raised prices in spite of mostly small changes in wholesale electricity costs.

Four of the big six – British Gas, Npower, Scottish Power and SSE – have all announced price increases over the last few weeks, causing MPs to call the bosses of all the major energy players in the UK before a committee to justify such raises in bills for private and business energy consumers, subsequently Ofgem’s findings could scarcely be more timely.

via Prices Raised, Cost Drop, Popularity Falls: A Bad Week for Energy Companies.

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