Why our energy prices are going up – and what you can do about it

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Posted 19/06/2018 by E.ON

Today we've announced that we're increasing our standard variable electricity and gas prices, due to the recent significant rise in the cost of wholesale energy. With this in mind, we explain when and why it's happening, and how our customers can limit the impact.

What’s happening and when?

Today we’ve announced that we’re increasing our gas and electricity unit rates, which will take effect in a few months’ time.

It means that, on 16 August 2018, the unit price of our standard variable tariff - E.ON EnergyPlan - will increase by an average of 4.8% for dual fuel, 6.2% for electricity only and 3.3% for gas only customers. 

These are the national average increases for fixed monthly Direct Debit customers, with single rate electricity prices. Customers on other payment methods will see a slightly lower percentage increase. Increases for E7 and E10 meter types may also differ slightly.

Over half of our residential customers are unaffected by this change. If you’re already on one of our fixed tariffs, or covered by the prepayment or safeguard cap, you won’t be affected.

Why this is happening now

Over recent months there’s been a significant rise in a number of costs that affect energy bills, including the cost of wholesale energy - the price we have to pay for the energy our customers need.

This rise has partly been driven by extreme weather conditions, like the Beast from the East.

Earlier this year we made some structural changes to all our tariffs, which reflected costs seen at the time. Through this, and by buying energy in advance, we have been able to protect our customers from some, but not all, of this impact.

What we’ve done so far

Over the last year we’ve communicated with around 1.8 million customers on E.ON EnergyPlan to advise them that cheaper tariffs could be available for them, and how they could pay less.

If you’re one of our customers directly impacted by today’s price rise announcement, we’ll be in touch by post with information on how it affects you.

How you can take control

One of the simplest ways to protect yourself from this price increase is to switch to one of our fixed tariffs or another supplier before the 16 August.

If you’re considering another supplier, the Citizen’s Advice Bureau can help you to compare the whole energy market independently.

As part of our commitment to be clear about how energy prices work, we provide information on where your money goes, and help to understand your bill.

And to help you manage your energy, we also provide lots of energy-saving tools and advice so you can understand your use. Often, making some small changes to your lifestyle can add up to a big difference in what you pay.

If you’re on a low income or have a health problem or disability, depending on your circumstances, you may qualify for funding to make your home more energy efficient.

Getting support

We’re always here if you want to get in touch for help with anything or if you’re finding it hard to pay your energy bill.

If you’re concerned about your finances in general and want to talk to someone, remember there are many charities that can help you with free, independent and confidential advice.

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