First Utility hikes energy prices by 9.7%

First Utility has announced it will be increasing gas and electricity prices by 9.7%. It will come into effect on 1st April and will add £8.80 to the average monthly […]

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By Priyanka Shrestha

First Utility has announced it will be increasing gas and electricity prices by 9.7%.

It will come into effect on 1st April and will add £8.80 to the average monthly bill.

That means a rise of £105.60 a year, taking the total average annual bill to £1,148.

The energy company says the price rise will affect only 13% – around 117,000 – of its customers as the majority of them are on fixed-price tariffs.

Ed Kamm, MD of First Utility said: “After a period of low wholesale prices, energy and industry policy costs have increased quite substantially over the past year and that unfortunately means we need to reflect this in the price of our variable tariff. This will only impact a small proportion of our customers, thanks to our focus on providing customers with great value fixed-price tariffs.”

Big Six suppliers ScottishPower, npower and EDF Energy as well as Co-operative Energy have announced price rises.

According to latest figures from Ofgem, around 7.7 million gas and electricity switches took place last year.