The German energy group E.ON will rise its standard tariff prices for its British dual energy (gas and electricity) customers by an average of 4.8% starting from mid-August 2018. The company is experiencing rising costs (22% increase in wholesale costs since March 2018) and will implement a £55 (roughly €63) annual price hike. E.ON expects to remain the fourth cheapest of the UK "Big Six" suppliers afterwards.
The Big Six include EDF Energy, RWE, Scottish and Southern Energy (SSE), E.ON, Scottish Power and British Gas (Centrica). In 2017, their share fell to 79% for the electricity market and 78% for the gas market, from 84% for both at the end of 2016. Meanwhile, British small and medium size suppliers reached a decade-high record with market shares of 21% and 22% for electricity and gas, respectively (4.7% and 5% in 2013).
The Big Six are facing rising costs and have all increased their tariffs recently: Centrica raised its standard variable tariffs (SVT) for gas and electricity customers by 5.5% from 29 May 2018: by £60 (€69) on average for its dual fuel customers, £30 (€34) for gas and £30 (€34) for electricity customers. Scottish Power also raised its tariffs by 5.5%, while SSE raised bills by an average 6.8%. Npower increased tariffs by 5.3%, while EDF raised electricity prices by 2.7%.