About those Big Six Energy supplier charges …June 11th, 2018
It appears that the UK’s Energy supplier charges could have been higher…. recent research from uSwitch and the Financial Sunday Express shows the Big Six energy suppliers have increased their prices by less than half the rate of inflation over the past 10 years.
The average dual fuel direct debit payment to a main energy supplier this January was £1,131, compared to £1,036 for the same month a decade ago. This reflects an increase of 9.2 per cent (based on consumption data from regulator Ofgem). However, it would have been £1,275.34, had it risen in line with the same rate of inflation.
Out of the Six suppliers, EDF customers have seen the largest increase in their bills with a 17.1 per cent increase from £975 in January 2009 to £1,142 a decade later.
The smallest increase was seen by British Gas customers, whose bills rose by 4.9 per cent over the 10 years to January 2018 to £1,101.
Only last week SSE raised its prices by 6.7 per cent in response to rising ‘wholesale and policy costs’, a typical SSE direct debit customer will now pay £1,196 a year.
The Big Six have hiked their prices by an average of 5 per cent this year, well above inflation at 2.1 per cent, uSwitch said. The report also highlights that nearly 12 million households are on ‘rip-off’ standard variable tariffs from the Big Six suppliers – these tariffs are up to £300 higher than the cheapest deals on the market.
Want to get your Business Gas & Electricity tariffs checked out? Contact a member of our Energy team on 01268 495555 or email firstname.lastname@example.org – send us a copy of your latest bills for a full health check!