Utility company SSE announced new price hikes on Wednesday, in a move that will increase a typical dual-fuel bill by an average of 6.7 percent.
The prices will increase from 11th July, equating to an increase of 5.7 percent for gas and 7.7 percent for electricity. For the average dual-fuel character, this will be a rise of around £1.50 each week.
The group confirmed that customers on fixed-price tariffs, with a prepayment meter and on the vulnerable customer safeguard tariff, will not be affected.
Chief commercial officer Stephen Forbes said SSE “deeply regret having to raise prices and have worked hard to withstand the increasing costs that are largely outside our control by reducing our own internal costs”.
“However, as we’ve seen with recent adjustments to Ofgem’s price caps, the cost of supplying energy is increasing and this ultimately impacts the prices we’re able to offer customers”, he concluded.
SSE aren’t the only company to have announced a price hike recently, with 4.1 million British Gas customers facing a 5.5 percent hike on Tuesday. Scottish Power is increasing prices by 5.5 percent for nearly one million people from 1st June, with EDF putting their prices up 2.7 percent on the 7th June.
SSE (LON:SSE) shares are currently trading broadly flat, down 0.51 percent at 1,368.00 (1033GMT).
