More than 154,000 customers will see a price rise of £117 a year, increasing from £1,137 to £1,254 from 1st April 2019, in line with Ofgem’s energy price cap.
All the Big Six suppliers as well as a few smaller companies, including Bristol Energy, OVO Energy, Toto Energy and Tonik Energy, have increased prices since the regulator announced a rise in the price cap for both standard variable and prepayment meter tariffs.
A spokesperson from First Utility told ELN: “Ofgem recently announced that it would be increasing its price cap by an average of £117 a year to accurately reflect the rising costs of energy, including wholesale and policy costs.
“These costs are felt by all suppliers and as a result, First Utility will be increasing the price of its variable tariff in line with Ofgem’s assessment. The majority of our customers will not be affected by this price adjustment because they are on fixed-price contracts, a result of our ongoing engagement with customers to ensure they are on the best deal for them. We encourage all our variable tariff customers to consider our fixed-price tariffs which provide long term price certainty.”