UK Money News
31st January 2008
Powergen set to rise prices
Powergen customers are facing large increases to their gas and electricity bills, it has been reported.
Over seven million consumers are expected to be affected by the hikes, which are expected to be over ten per cent.
The move is expected to be confirmed imminently, with the firm currently finalising plans for the rises, the Times reports.
News of Powergen's plan comes as nPower, British Gas and Scottish Power have all upped their charages this year.
All three companies cited soaring cost for energy prices as the principal reason for the rises, but also blamed the extra outlay of investing in greener energy generation and necessary upgrades to networks.
Since these were confirmed the market watchdog Energywatch has called for the Competition Commission to conduct a probe into the prices rises.
Allan Asher of Energywatch told BBC News 24 that the "price rises we've seen are not justified" and that consumers are currently "paying much, much more than they need to".
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