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The company said its wholesale energy costs had risen 51 percent since Feb. 1, the Times of London reported.

Three-fourths of its customers would be affected by the new rates. The remaining quarter of its customers were under price protection or purchased fixed-price products, the company said.

The company said it tried to keep prices low. "I recognize that this is a very tough time for everyone", E.ON's Managing Director of Retail Graham Bartlett told The Times. "This was not an easy decision to make."

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