Npower energy price hike will be 'very difficult' for printers, says BAPC

Energy supplier Npower is to increase its prices by 15.7% for gas and 7.2% for electricity from 1 October, it has announced.

The company, which is owned by RWE, is the fifth of the six big energy firms to announce increases following Scottish and Southern Energy, Scottish Power, British Gas and E.ON. EDF has not yet announced any changes to its tariffs.

RWE Npower chief executive Kevin McCullough blamed the price hikes on reduced quantities of North Sea Gas, which has forced the company to buy energy on the volatile global wholesale market.

He said: "I know it hurts everyone when we put up prices and I wish we didn’t have to. Although our half yearly profits were better than last year they do not begin to match the billions we are investing in energy for the future.

"World events have pushed up prices and we believe this trend will continue. In the UK we have also seen rising distribution and network charges, and further environmental costs but we have still managed to keep our increases lower than those announced by any other major supplier."

Sidney Bobb, chairman of the British Association for Print & Communication (BAPC), said: "Apart from shopping around for cheaper rates there is not much than businesses can do. It’s very difficult because margins are tight anyway and many printers will not have made provisions for these price increases when costing their work. In some instances it could be the straw that breaks the camels back but for others it will be something that they have to accept."

See also: 

Take control of the cost of your power consumption