News.Scotland.Org

January, 4

Get ready to pay more for your most needed household utility gas and electricity; well this was announced by Npower yesterday taking into count this upward trend in the market. It is learnt that the prices of gas will now go up by 17.2 percent and that of electricity by 12.7 percent. The reason behind this jump in prices is said to be with the increase in the prices of wholesale gas which has forced the prices to jump. This price hike is all set to affect about 90,000 households in Scotland. The power company also informed that the new price scheme will witness a jump of about 15 to 24 percent.

Npower, one of the biggest suppliers of energy in the UK serving about four million customers in Britain said the situation is so tight that price hike is necessary. Meanwhile Npower said that the other energy companies have introduced the regional gas prices before. Along with the increase in the wholesale price the higher distribution cost and transportation cost also have added to the need for price hike.

With the price hike in the beginning of the new year consumers have to adjust their household budget to meet this jump in the price. It was noticed that last year too there was price rise for these energy products and this year too one can get to see a multiple price rise. The instability in the wholesale market is making the gas and electricity price to march upward.

This uncertain trend in the market is making the consumers to suffer with sudden price hikes in the basic household utilities. Now it is a matter of concern whether this upward trend would continue to move further this year.