For the first time (since Loka Energy was created in 2014) we sadly have to submit a small price increase. The price went down 2 years ago, then we held it static last year. We recognise that customers do not want to have fluctuating prices so we try to keep the price as static as possible.
As you would expect this price change is exactly in line with the Residential Supply agreement, on top of this we then submit the pricing changes to our Governance Committee. The result of this is that prices will change from the 1st of August.
How will the price increase?
- The Unit Charge will remain the same at 7p/kWh
- The Standing Charge will increase 2% in line with CPI
This will equate to an annual increase of £7.55/year for our residents.
We were entitled to increase pricing last year but didn’t, meaning that the overall increase over the 2 years is also £7.55. As stated in the Residential Supply Agreement*:
- We may adjust the unit and fixed charges once per year
- We must inform you of any adjustments to our prices
- thirty one (31) days in advance
- We must confirm the basis for such adjustments
*All of these changes are in accordance with the guidelines stipulated in Section 5.4
and Section 6 of Schedule 1 of the Loka Residential Supply Agreement.