Bristol, OVO and TOTO Energy have become the latest suppliers to announce an increase in prices.
OVO Energy’s 10% price rise will affect around 160,000 customers on the standard variable tariff, taking the total annual dual fuel bill to £1,249 on average.
The increase, which will add £18 million in total to bills across the UK, will also affect customers on its brands, including Peterborough Energy, Fairerpower, Southend Energy and EnergySW.
An OVO Energy spokesperson said: “OVO Energy will be increasing the price of its Simpler Energy tariff. The company is making these changes because the cost of commodities has increased substantially over the past year and we are increasing our prices to remain sustainable and responsible. All of our variable tariff prices will always be within the price cap, so customers will always have this safety net in place to ensure they’re paying a fair price for their energy – it’s an idea we’ve supported from the start.”
Bristol Energy’s customers will see a 9% increase on their bills, taking the total dual fuel tariff to £1,210 a year on average.
TOTO Energy has raised prices by 10%, with customer bills increasing to £1,254 annually.
Prepayment customers with all three suppliers will see their bills increase by up to £108 a year.
The price rises come after Ofgem announced an energy price cap increase for both standard variable and prepayment meter customers from April this year.
Bulb is the only supplier to reduce energy bills for around one million customers after a fall in wholesale gas costs.
Rik Smith, Energy Expert at uSwitch said: “Challenger energy suppliers have largely followed the trend set by the Big Six and announced hikes to their standard tariffs. Against this backdrop, Bulb’s decision to cut prices is all the more eye-catching.
“Since Ofgem raised the level of the price cap, price increases have been confirmed by all of the Big Six plus nine smaller providers. More will likely follow suit before the bill hikes take effect on 1 April.”
Customers are being advised to shop around for the best deal on the market and switch to save money on their bills.