Small energy supplier Bulb has announced a 5.1% price rise of its only tariff.
More than 450,000 customers will be hit by the increase in prices when it comes into effect on 12th August this year.
A typical dual fuel bill will rise from £879 to £923 a year.
Bulb’s standard tariff, however, remains cheaper than the average of the Big Six companies, all of which have increased prices recently.
The supplier said the price rise follows “substantial increases” in the wholesale cost of gas and electricity, increasing by 21% since February.
Co-founder Hayden Wood said the company is “committed to supplying energy at a fair price”.
He added: “That’s why we have one tariff for all our members, which reflects the true cost of energy. When wholesale energy costs change, our tariff does too. these costs have climbed throughout 2018 and are now 21% higher than they were in February. As a result, from August, our price will be going up by £4 per month for the average Bulb member.”