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Npower to raise energy prices by 5.3%

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Gas and electricity supplier Npower is raising energy bills by an average of British Gas is increasing prices by 5.5% from 29 May, while EDF is raising electricity prices by 2.7%.German-owned Npower blamed increases in policy and wholesale energy costs for the increase.Simon Stacey, managing director, domestic markets at Npower, said: "Announcing this price change today isn't a decision we've taken lightly."
He said the costs energy suppliers are facing - "particularly wholesale and policy costs which are largely outside our control" - have been on the rise for some time "and we need to reflect these in our prices".
'Chunky rise'
The 5.3% average price hike is made up of a 4.4% rise in gas prices and a 6.2% increase in electricity.Mr Stacey pointed out that the price rise would not affect existing customers on a fixed deal, those with a prepayment meter, or customers on the Safeguard tariff.Stephen Murray, energy expert at MoneySuperMarket, said: "This is a chunky rise from Npower - all we need now is something from SSE and it's a full house from the Big Six. "Npower says 60% of its customers won't be affected but that still means 40% - or one million people - will."
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