Energy Business Review

E.ON UK has become the latest energy supplier to respond to rising wholesale energy costs by increasing electricity prices by 16% and gas prices by 26% for the majority of its residential customers. The move comes as a result of rising wholesale costs, which have increased by over 51% since February 2008, according to E.ON. This will equate to £0.62 per day or 22% for the average dual fuel customer. More than a quarter of E.ON's customers are believed to be unaffected by the price hike as they are already on price protection and fixed price products. As suppliers increase their prices, such offers are becoming increasingly difficult to find, although E.ON has launched a range of new protection products.