npower Joins the Price Rise Craze
March 14, 2006 at 3:13 am
All the major energy companies have announced at least one price rise so far this year and npower is following in their footsteps with an 13.4% rise for their domestic electricity customers and a 15% rise for their gas customers.
These new prices will come into effect from the end of March, marking the second rise from npower this year. By April, customers will be paying nearly 30% more for their utilities than last year.
The reason is already known to us as ever increasing wholesale prices and npower have tried to soften the blow by assuring customers that they have waited as long as possible before implementing increases, saving them money over the winter compared with prices charged by other companies in the same period. They have not however ruled out further increases this year, as British Gas promised with their last huge increase.
National Grid Issues Gas Shortage Alert to Industries
March 13, 2006 at 5:43 am
The National Grid issued its first warning that demand for gas exceeded supply in the UK today.
As North Sea gas reserves dwindle and more imports are needed, worries of gas supply troubles are continually felt. The recent cold weather coupled with the UK’s main offshore gas storage facility being shut has meant supplies are tighter than usual. This shortage has led to gas prices hitting a record high today with wholesale prices quadrupling to a massive 255 pence a therm.
Industrial users have been warned to curb their usage or the supplies could be shut off. Some companies have been able to cut back their usage or use alternative fuels but many companies using gas as a raw material have no alternative.
Powergen Announce Price Rises Too
March 2, 2006 at 10:38 am
Powergen becomes the 6th energy company to announce substansial energy price rises. Their gas customers will see a 24.4% rise and electricity customers, a 18.4% rise.
Their reason for these price rises – soaring wholesale energy prices – echos the explanation given recently by all the other energy companies. Powergen claims to have held out as long as possible before implementing this increase and ensure that their prices will remain competitive. New rates will come into effect on March 10th.
