E.ON to freeze 5 million energy prices

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EON price freeze

EON price freezeStretching your household budget to cover all the bills can be tricky - but if you're an E.ON customer, you could at least be in for some welcome news.

The energy giant has told customers that it won't increase its prices this year, a move which will bring relief to around five million households across the UK.

It comes as other firms, including British Gas owner Centrica, admitted that families will face yet more price hikes over the next 12 months.

Energy companies say they need to increase their bills because wholesale costs are rising - but despite this, E.ON said it plans to freeze prices for the remainder of 2012.

The firm also plans to help families improve their energy efficiency by installing smart meters and providing advice.

But the company hasn't ruled out increasing its prices at the start of next year - meaning families could see their bills increase during the cold winter months.

E.ON UK chief executive Dr Tony Cocker said: "Let me be clear - E.ON will not raise residential prices in 2012. Earlier this year we cut our energy prices in a way that helped some 75% of our customers and I hope that the certainty we've given today will show our customers again that we are committed to helping them."

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