7.4 million households to be affected by energy price hikes

Four of the UK’s “Big Six” have announced a price increase this year, predicted to affect 7.4million households.

Energy giant British Gas was the first to declare the change, with 4.1 million customers predicted to be hit with a 5.5% increase from the 29th May. Scottish Power, EDF and Npower followed, announcing price hikes that will send gas and electricity bills soaring by approximately £64 per year.

Figures predict an additional £393.8 million will be paid towards energy bills once the increases come into effect, with British Gas alone predicted to bill customers £246 million more than last year.

Consumers whose energy contracts are due to expire are at risk of being rolled onto extortionate Standard Variable Rates, typically costing an additional £181. Post price hike, these rates are set to increase further by around 23% and at around £226.

If you’re aware that your energy contract is due to expire shortly, or you haven’t switched in the past 12 months, you could be at risk. Speak with one of our Energy Managers today on 01279 810120 for more information and advice.