UK Money News
8th February 2008
E.ON price rises to offset mortgage savings
Consumers served by the energy company E.ON will not benefit financially from yesterday’s cut to the base rate of interest, it has been claimed.
Today will see E.ON’s previously announced price increases become effective, with rises of 15 per cent and 9.7 per cent for gas and electricity respectively.
The double-digit rise will mean that any benefit that consumers might have expected from the 0.25 per cent cut to interest rates will be wiped out, Scott Byrom, utilities manager at moneysupermarket.com said.
He said: "This move by E.ON will have the greatest negative impact on customers in Eastern England, the East Midlands and most of North West England who will see any mortgage savings wiped out."
The effect of the rises on household budgets means that the need to shop around for a different provider or more appropriate tariff is more evident than ever, Mr Byrom said.
Other energy firms who have recently announced price increases include British Gas, npower, ScottishPower and EDF.
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