E.ON announced that on January 18, 2014 its energy prices for existing standard variable dual fuel customers will rise an average 3.7 percent. Although the UK government recently made some adjustments to reduce the cost of the Energy Company Obligation (ECO) – an insulation scheme delivered by major energy suppliers – most major suppliers are still raising rates to some degree.
E.ON says for the second year running, it has announced an increase later than any other major supplier and is limiting the impact on its customers by announcing a lower average percentage rise than any other major supplier. E.ON says the likelihood of further price increases over the next 18 months caused by an increase in the cost of social and environmental obligations has receded due to the Government’s recent actions.
Customers on standard variable tariffs will see their prices change. Customers already on fixed deals will, in the majority of cases, still be on products that are lower in price than the altered tariffs.