May 30, 2018 / 8:28 AM / 6 months ago

FACTBOX-Energy price changes by utilities in Britain

May 30 (Reuters) - Some of Britain’s biggest energy companies have announced price increases this year, citing higher wholesale prices and the cost of government policies to support renewable energy generation.

More are expected to follow suit and the moves come after similar rises last year.

Britain’s dominant energy companies have been under scrutiny by the government, which is putting a price cap on standard variable tariffs to combat what it has called “rip off” energy prices.

Below are tariff changes so far this year (in alphabetical order):

NPOWER:

Npower, owned by Germany’s Innogy, will raise its variable dual fuel bill by 5.3 percent as of June 17, impacting about 1 million customers.

The rise represents a 64 pound increase on annual bills and a direct debit customer on the tariff will typically pay 1230 pounds ($1,633) a year. The hike is made up of average rises of 4.4 percent on gas and 6.2 percent on electricity.

BRITISH GAS

Centrica-owned British Gas is increasing its standard variable tariff for electricity and gas by an average of 5.5 percent from May 29.

The move will add 60 pounds to annual bills for 4.1 million customers on the tariff, raising them to an average of 1,161 pounds, the company said.

EDF ENERGY

EDF Energy, a unit of French utility EDF, said it will increase the cost of its standard dual fuel energy bills by 1.4 percent (or 16 pounds) to 1,158 pounds a year from June 7.

SCOTTISH POWER

Iberdrola-owned Scottish Power said it will raise standard variable domestic gas and electricity prices from June 1 by an average 5.5 percent, or 63 pounds on a typical annual dual fuel bill.

The move will affect around a third of homes supplied by Scottish Power, around 960,000.

SSE

SSE said it would raise the price of its standard dual fuel bill by 6.7 percent from July 11 to reflect sustained increases in wholesale and policy costs.

The rise equates to a typical annual bill increase of 76 pounds and will affect 2.36 million customer of SSE and M&S Energy, which is supplied by SSE.

$1 = 0.7534 pounds Reporting by Nina Chestney, Sabina Zawadzki and Susanna Twidale; Editing by Alexander Smith and Mark Potter

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