E.ON to peg its prices

E.ON, one of Britain's biggest energy suppliers, has said it will not increase tariffs for its UK residential customers this year, despite rising wholesale prices.

"Unfortunately global energy markets are expected to see an overall trend of rising wholesale prices," Tony Cocker, the chief executive of E.ON UK, said, but he added it would keep residential prices unchanged.

His comments come days after British Gas's owner Centrica said the trend for retail energy costs "remains upwards", prompting concerns household bills could rise.