British energy company to raise electricity tariffs for select customers

British energy company Octopus Energy will increase tariffs for some of its customers starting May 1, Sky News reports.

According to the MoneySavingExpert platform, customers were notified of the changes on April 20—less than two weeks before the new terms take effect.

The price increase will affect users of the Intelligent Octopus Go and Octopus Go tariffs, which are designed for electric vehicle owners and offer discounted overnight charging rates. 

Under the new conditions, the fixed charge will rise by an average of 52 pence per month, while electricity prices during off-peak hours will also increase.

Octopus Energy directly links the tariff revision to the worsening situation in the Middle East. Company representatives emphasised that ongoing volatility in the energy market, triggered by the consequences of the conflict in Iran, is forcing suppliers to adjust prices.

By Jeyhun Aghazada