E.on hikes electricity prices by nine per cent

Energy group E.on is to increase the price of electricity to residential customers by nine per cent.

The hike will take effect from Friday February 4 when E.on also plans to raise gas prices by three per cent.

Most residential customers will be affected, said E.on.

Its most vulnerable customers will not be affected, it added.

E.on blamed price rise on the higher cost of wholesale energy prices which have risen by 35 per cent since last spring.

The energy supplier said the rises were the first since August 2008 and in that time, it had cut prices on three occasions.

Graham Bartlett, managing director of E.on's energy solutions business, said: "It's been over two years since we last increased our prices and, unlike other companies, we held off from increasing them during the incredibly cold temperatures we saw in late November and December.

"But we now have no option but to make this change due to increases in the prices we pay for gas and electricity although our customers won't actually see the increases until next month.

"We're protecting our most vulnerable customers from this increase, with most unaffected until the winter's over, and looking to help everyone where we can."

E.on said the price rises equate to 16p a day for those using both gas and electricity

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