Good Energy raises prices 2.2 per cent on smart metering costs

Good Energy is raising dual fuel prices by 2.2 per cent, to average £1,119 a household, on rising smart metering and renewable energy costs.

The green supplier revealed the cost of buying power and gas on the wholesale market has dipped by 1 per cent, or £12 off the average annual household bill.

This is outweighed by £18 to prepare for the smart metering rollout, £10 for renewable subsidies, £5 to comply with new Ofgem retail market rules and £4 on networks.

Chief executive Juliet Davenport said: “We’ve been working hard to improve our electricity forecasting and trading, which has meant we’ve been able to reduce the amount we spend on power purchase. At the same time, the excellent performance of our Delabole Wind Farm has helped us further control the amount we need to spend.

“However, this has been countered by some of the other costs we incur in supplying gas and electricity to our customers which will rise at the beginning of April, and we need to reflect this in our prices.”

More than a million people generated their own renewable electricity last year, said Davenport, leading to a 1.8 per cent rise in the cost of renewables.

She added: “In a world where the UK is becoming increasingly reliant on energy imports, renewables can play a growing part in helping us to achieve energy self-sufficiency and security in the longer term.”