How are energy prices changing in 2016? Keep up-to-date with the latest gas and electricity prices rises and price cuts with uSwitch
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See which energy suppliers have made gas and electricity prices rises or price cuts, how much prices went up or down by, and when the price change will come into effect.
And don't forget, whether gas and electricity prices are rising or falling, it's always a good idea to compare energy prices in your area. When you switch your energy supplier with uSwitch you could save hundreds.
We update our comparison rates with new prices promptly, so you can be sure that you're getting accurate results when you do a comparison.
2016 gas and electricity price changes
By mid-February 2016, all of the big six suppliers had announced they would be cutting prices amid demand that bill costs reflect the falling wholesale gas prices.
The announcements kicked off with E.ON in January, and by 11th of February, all big six had committed to dropping prices by roughly 5%. However, these cuts were met with criticism for a few reasons:
- Price cuts were around 5% from each supplier, while wholesale gas costs dropped about 23%
- The price cuts only affected customers on standard plans, and the difference between suppliers' standard plans their own cheapest plan was more than £300 in most cases
- Some suppliers announced the cuts in January, but didn't implement the change until after winter was over — when customers' energy use would go down considerably
Changes to gas and electricity prices a 'token gesture'
Ann Robinson, Director of Consumer Policy at uSwitch, said of the price cuts: “Consumers will be exasperated at yet another small cut from the big six which, quite frankly, is too little too late. Hard-pressed customers should be seeing double-digit cuts to bills, to help stay warm and keep the lights on this winter.
“Is there a chance that EDF Energy will do the right thing and announce a price cut that properly reflects the fall in wholesale prices?
“Token-gesture price cuts demonstrate that loyalty simply doesn’t pay. Standard tariff customers should make their own price cut by switching to a cheaper fixed deal, saving more than £320 a year.”
|Supplier||Date effective||Avg price change (%)|
|24 March 2016||5.1%|
|1 Feb 2016||5.1%|
|16 March 2016||5.1%|
|15 March 2016||5.4%|
|29 March 2016||5.3%|
|29 March 2016||5.2%|
*Based on a medium energy user on a standard dual fuel tariff, paying on receipt of bill, with bill sizes averaged across all regions.
Gas and electricity prices 2004-2012
Gas and electricity bills have gone up nearly £800 in eight years. That's roughly 151% since 2004, easily outstripping any other household essential!
We've compiled this handy infographic which shows a quick and easy visual summary of how energy price changes affect your bills.
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What should you do?
If your energy supplier has recently put up prices it's a good idea that you run a comparison to see if you're still on the best deal.
If you're worried about future price rises you should consider 'fixed' plans, which guarantee your per kWh tariff charges for a fixed period of time.
If your supplier has put down its prices, it's still important to run an energy comparison to find the cheapest plan for you.