Bristol Energy has announced it is increasing its gas and electricity prices by 12.6% for the first time since its launch in February 2016.
It will add around £128.16 to the average dual fuel bill a year and will affect around 14,000 existing customers from 8th September 2018.
That takes total annual standard variable tariff to £1,121 – Bristol Energy claims it is still cheaper than the Big Six suppliers.
Owned by Bristol City Council, it said the price rise is due to “increased uncertainty” in the energy market.
The supplier added: “We don’t take any price increase lightly and we’ll only do it when absolutely necessary. However, since November 2016, wholesale electricity prices have risen by around 15% and gas by 30%.
“Government policy costs have also increased significantly, including clean energy subsidies and the smart meter programme. We’ve worked hard to reduce our own costs, to absorb some of these increases. But we can’t offset the rise in the wholesale market.”
British Gas and EDF Energy have announced two price rises each this year.
