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Date: Thursday 21 Aug 2008

LONDON (ShareCast) - German energy supplier E.ON is upping charges for UK gas customers by 26% and by 16% for electricity users from tomorrow.

The hike to bills for its 5.5m British customers was blamed on a 51% surge in wholesale costs since February.

This latest increase means three of the big six suppliers have now raised prices this summer, with France’s EDF Energy and British Gas having led the way last month.

EDF was the first to move when it bumped up electricity prices by 17% and its gas prices by 22%. It pointed to higher wholesale energy prices, with coal up 70%, gas 63% and 47% for electricity since it last raised its tariffs in January.

A few days later British gas-owner Centrica said a 69% slump in first half profits at its residential unit had prompted a 35% hike in gas prices and 9% rise in electricity bills.

“I’m very aware of the effect that today’s announcement will have on our customers and I recognise that this is a very tough time for everyone,” said E.ON’s managing director Graham Bartlett.

“This was not an easy decision to make and we’ve tried to keep these increases as low as possible while protecting as many of our customers as we can."

Earlier this year, the company increased gas bills for domestic customers by 15% and slapped an extra 9.7% on the price of electricity.

Worries about potential supply disruption this winter following a leak at a North Sea pipeline yesterday have sent wholesale gas prices up almost 15%.

Norwegian giant StatoilHydro’s pipeline from its Kvitebjoern field in the North Sea to the Kollsnes onshore processing plant is expected to be closed until next spring.

• News Channel