Energy
Npower latest big six energy firm to reveal cuts to consumer bills
Big six energy firm Npower has announced price cuts of 2.6%, amid growing pressure from consumer groups to pass on savings to customers after the government’s shake-up of green levies. This follows the firm’s 10.4% price hike in October.
The cut comes in response to the government’s rollback of social and environmental taxes on consumer energy bills, despite warnings that such cuts would be shortsighted.
In a statement, Paul Massara, chief executive of RWE Npower, said, “Every customer who saw their prices go up in December will receive a reduction to their annual energy bill.”
He added, “Typically, this will mean a £50 annual reduction for the average dual fuel customer when the government’s one-off universal rebate is included. All electricity customers whose prices did not increase in December will receive this £12 universal rebate”.
Energy firm SSE was the fifth of the six energy firms to announce energy bill reductions on Wednesday since the hikes, but some consumer groups argue that the reductions should be passed on to all customers – not only those on dual fuel tariffs.
Massara added, “We also remain committed to give our customers greater certainty with their household budgets. We don’t plan to increase energy prices before spring 2015, unless there are increases in wholesale energy costs or network charges.”
Further reading:
Energy firm SSE to cut consumer dual fuel bills by 3.5%
Npower to increase energy prices by 10.4% in December
Scottish Power to cut bills by 3.3% after green levy rollback
Autumn statement: Osborne delivers a win for social investment but omits environment