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Robin Hood Energy has announced an increase to the price of its standard variable tariff which will rise by 14.8 per cent for the average dual fuel customer starting on 29 November.
The hike, which will affect the 20 per cent of its customers on its Evergreen tariff, equates to an extra £155 on the typical annual energy bill.
The not-for-profit supplier blamed the increase on growing wholesale energy costs. It said it had managed to avoid raising prices for more than a year and a half but could no longer continue to do so.
“No company likes to put up prices,” said Robin Hood Energy chair Steve Battlemuch. “But in the last year we’ve seen wholesale energy prices go up massively across the market.”
He said 43 price hikes had already been announced by 30 different suppliers since the beginning of 2018, adding: “Other energy companies – some of the bigger ones – have up to 60 per cent of their customers on a standard variable tariff and put very little effort into trying to move those customers.”
The last time the supplier raised its standard variable tariff was in April 2017 when it increased the price of the average dual fuel energy bill by 17 per cent.
Robin Hood Energy was created by Nottingham City Council in 2015 in an effort to tackle fuel poverty among local residents. It has white-labelling arrangements with a number of other council-owned suppliers, whereby the company’s tariffs are sold by its partners under their own branding.
They include: White Rose Energy in Leeds, Ram Energy in Derby, Angelic Energy in London, Great North Energy in Doncaster, Citizen Energy in Southampton and Leccy in Liverpool.
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