Tonik Energy latest supplier to increase prices

The total annual dual fuel bill will average at around £1,192 for under 10,000 customers

Tonik Energy has become the latest supplier to announce an increase in prices that will affect under 10,000 customers.

It follows Ofgem’s energy price cap hike for standard variable and prepayment tariffs to £1,254 and £1,242 annually respectively.

Tonik Energy’s price rise will take the total bill for an average medium-sized dual fuel customer on the standard variable tariff to £1,192 a year, below the regulator’s cap.

It said in a statement: “Life Energy continues to be one of the most competitive standard variable tariffs on the market, as well as Tonik’s greenest tariff available, with 100% renewable electricity and 10% green gas with the remainder being totally carbon offset.

“The renewable energy company believes that the changes to Life Energy are a fair reflection of the current economic and environmental conditions and the best way to ensure a sustainable future for everyone.”

All the Big Six suppliers – British Gas, E.ON, EDF Energy, npower, ScottishPower and SSE – as well as Co-operative Energy and Ebico have increased tariffs so far.

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