E.ON blames external pressures for price rise

Monday 10 December 2012 Updated: 11/12 11:10

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Buy photos » E.On's head office in Westwood Business Park, Coventry. Picture by Jon Mullis 39.011.026.cov.jm2

ENERGY firm E.ON has honoured its pledge made back in May not to customers to increase its prices again in 2012.

But just 18 days after the promise expires the firm - based on Westwood Business Park - will hike prices by almost ten per cent, it announced on Monday.

Duel fuel bills will rise by an average of 8.7 per cent, electricity only by 7.7 per cent and gas only by 9.4 per cent.

It is the final of the big energy firms to increase prices this winter.

Chief executive Tony Cocker blamed an increase in the price they pay for energy, the doubling of the cost of free and subsidised insulation schemes, the rising cost of energy from renewable sources such as wind farms and money it is being made by Government to invest in greener energy.

In September last year the firm cut 500 jobs from its headquarters in the city and set up an independent customer council will look at tariffs and bills.

Mr Cocker said on Monday: "We have held back from increasing our prices for as long as we possibly could and at the same time have worked hard to reduce our own costs as a business so that our customers can get the best price possible.

"However, some 16 months after our last price increase, and almost a year since we actually cut our electricity prices, we have had to make the difficult decision to increase our prices."

E.ON said one in six of its 210,000 customers would not be affected by the price rise from January 18 as they were on fixed price deals.

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