Energy Prices on the Rise Again!

If you are a customer of a ‘big six’ energy firm then you likely be in on the receiving end of a price increase over the next couple of weeks (if you’re on a variable tariff of course). Today SSE announced early summer price rises, with an average increase of 6.7%. Gas prices will rise by 5.7% and electricity prices will go up by 7.7%. In monetary terms, this will mean an average rise of £76 per year for 2.36 million customers.

If you are a British Gas customer then you would have already been on the receiving end of 5.5% increase yesterday, which adds an average of £60 to each customer’s bill.

Those two are just the tip of the iceberg, with Scottish Power increasing prices by an average of 5.5% for almost 1 million customers from 1st June. EDF increasing prices the least but still by 2.7%, meaning an increase in customer bills of £16 per year. This will affect 1.2 million customers and come in on 7th June.

Npower are increasing their prices by 5.3%, which is an average increase of £64 for each of the one million people it will effect from 17th June.

Finally, E.On already made some changes in April which will see an increase on average of £22.

These price increases are being blamed on the increasing costs of supplying energy, especially in terms of wholesale price increases.

If you’re effected by these changes, then it’s a good time to look at how much money you could save by switching. It’s also worth considering whether you would be better changing to a fixed tariff (if you aren’t already) as this will stop you being affected immediately by further price increases in the future.

Our objective is simple, to provide you with the information to help give you confidence when switching to a new energy supplier.

We will be happy to hear your thoughts

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