Huge Swathe of Price Rises Hit 11 Million Homes
As the price cap increases so do most supplier's standard tariffs by £117 a year
As the energy price cap increases so do most supplier's standard tariffs by £117 a year. All of the Big Six that have 75% of the UK's energy customers hike rates by £117 a year and most medium sized and small suppliers do too.
In what is a disappointing move, all the major suppliers follow the price cap and raise their rates. It was hoped that, as it was a cap, suppliers might choose to keep their rates lower however customers have no such luck.
It turns out to be the biggest price rise in history as most suppliers hike their standard rates on the same day hitting 10 million homes and over 20 million people.
'Customers need to make their own luck, get off expensive standard rates by switching and get onto a low cost fixed rate tariff. In ten minutes you can typically save yourself £200-£300 a year. Not even supermodels make that much!'