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02/11/2004
Rising costs sees Powergen announce price hikes
Powergen has announced price hikes for electricity and gas customers due to "unparalleled" rises in wholesale costs, it has emerged today.
The energy company confirmed today that it will increase electricity prices by 8.9% and gas prices by 9.6% for the majority of its residential customers. The changes will be effective from November 29. Age Concern Energy Services customers will be protected from this price increase until after the winter months.
Powergen said price rise reflects the surge in wholesale costs which have risen 39% for electricity and 49% for gas in the last six months.
At the same time, Powergen also announced an £8 million programme designed to give practical help to up to half a million of its most vulnerable customers.
Nick Horler, Managing Director of Powergen Retail, said: “This price rise is not a step we’ve taken lightly. All suppliers are currently affected by rising wholesale costs and we’ve delayed this increase for our customers longer than most of our competitors.
“We recognise this is a difficult time for some customers and we’re keen to offer everyone support and advice to minimise the impact of this price increase, which is why we’ve also moved quickly to provide our most vulnerable customers with special measures."
The £8 million package of measures consists of free cavity wall insulation which will be offered to all customers aged over 60 and those on income or disability related benefits. Cavity wall insulation could save each household around £160 a year on energy bills, the company said.
(gmcg/sp)
The energy company confirmed today that it will increase electricity prices by 8.9% and gas prices by 9.6% for the majority of its residential customers. The changes will be effective from November 29. Age Concern Energy Services customers will be protected from this price increase until after the winter months.
Powergen said price rise reflects the surge in wholesale costs which have risen 39% for electricity and 49% for gas in the last six months.
At the same time, Powergen also announced an £8 million programme designed to give practical help to up to half a million of its most vulnerable customers.
Nick Horler, Managing Director of Powergen Retail, said: “This price rise is not a step we’ve taken lightly. All suppliers are currently affected by rising wholesale costs and we’ve delayed this increase for our customers longer than most of our competitors.
“We recognise this is a difficult time for some customers and we’re keen to offer everyone support and advice to minimise the impact of this price increase, which is why we’ve also moved quickly to provide our most vulnerable customers with special measures."
The £8 million package of measures consists of free cavity wall insulation which will be offered to all customers aged over 60 and those on income or disability related benefits. Cavity wall insulation could save each household around £160 a year on energy bills, the company said.
(gmcg/sp)
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Northern Ireland WeatherThis Evening and Tonight:Showers gradually die out to leave good clear spells in the evening and overnight. This will allow a few fog patches to develop in places. A cold night with some ground frost. Minimum temperature 2 °C.
