28th Feb 2014 14:37
LONDON (Alliance News) - Good Energy Group PLC said Friday that it was raising its electricity and gas prices starting April 2, although it says that its prices will still be cheaper than tariffs offered by the big six energy suppliers.
The renewable electricity supplier said that the average dual fuel bill will rise by 2.2% to GBP1,199 a year from GBP1,173, which it said was broadly in line with inflation.
"We don't like having to raise our prices but the good news is, even with a 2.2% increase, our dual fuel tariff is cheaper than the standard tariffs offered by the 'big six' , excluding discounts," said Chief Executive Juliet Davenport in a statement.
The company said that it recognised concerns about rising energy bills for consumers, and said it had tried to minimise the impact to customers as far as possible. The company said that a reduction in average power costs and a good performance from its Delabole Wind Farm had been offset by expenditure required to meet the UK's Retail Market Reform regulations and costs associated with renewable energy and smart metering programmes.
Shares in Good Energy were trading up 1.1% at 287.99 pence Friday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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