2018 brought a record amount of price hikes

What will this year bring?

2018 brought a record amount of price hikes

Energy customers in the UK were hit with a massive 57 price rises in 2018, compared to only 15 in 2017.

That adds up to rises of nearly a billion pounds per year, and we’ve estimated that the average energy bill went up by £85*. 12 million households are affected by these price rises, which means it more than likely affects you.

The impact of these price rises has been felt everywhere, and there is mounting pressure on households. Some households have even been forced to pay for their heightened energy bills will money which was saved for things like holidays, presents and leisure.

These price rises came amongst many smaller firms collapsing last year, as well as rising wholesale energy prices, meaning the suppliers have to raise their own prices to get profit back.

As energy costs change depending on regions in the UK, some areas could find themselves paying double the price rise.

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Price rises from British Gas have affected the most customers, yet Scottish Power had increased prices the most.  The Big Six company who raised their prices the least in 2018 was Npower.

However, all of these price rises only affect SVT’s, or “Standard Variable Tariffs”.

However, there is a solution to be found – a fixed energy tariff. A fixed tariff means no fluctuation in prices – which means you can be protected you from further price rises for a year – or longer.

More price hikes are predicted to be arriving soon, after the Government’s Price Cap goes under re-evaluation - so now is the best time to lock in a fixed deal.

Lock in your fixed deal HERE

*Price increase amounts and average usage calculated against an average bill of £1,221 (Average Big 6 energy suppliers’ Monthly D/D payment method standard tariffs on 31 Dec 2018) after price rises enacted. Calculations for average usage dual fuel household paying by monthly D/D. Average usage defined by OFGEM is 12,000 kWh pa gas and 3,100 kWh pa electricity. Includes publicly available tariffs available in at least 12 of the 14 regions of UK. Excludes exclusive, collective and staff tariffs not generally available.

 

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