One of the UK's leading energy providers has stated that its decision to increase the price of its gas and electricity tariffs is a "fact of life".
npower's residential business managing director, Guiseppe Di Vita, added that the company tried hard to hold off on introducing the price hikes, but had to concede defeat in its battle against high wholesale energy costs.
The company has announced average price increases of 12.7 per cent and 17.2 per cent on its gas and electricity tariffs respectively.
Commenting on the decision, Mr Di Vita said: "Today's decision was not an easy one. We always try to protect our customers for as long as possible but sadly higher energy prices are a fact of life.
"npower is not alone in facing these higher costs, and we expect other suppliers to follow suit very shortly."
The director of campaigns for UK watchdog energywatch, Adam Scorer, recently also stated that the price increases were "the shape of things to come" for consumers in Britain.
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