Virgin Media price increase 2023 — what can customers do?

Virgin Media has officially announced a price increase for millions of broadband, TV and home phone customers in 2023. Monthly costs will go up by a staggering average of 13.8% from the 1st April 2023, pushed by extremely high inflation rates in the UK.

The good news is, unlike other providers, Virgin Media allows you to switch or cancel your contract without any cost if you're affected.

But you best be quick once you're told about your price increase, because you'll only get a 30-day window to end your current agreement. So once you receive your notification, you’ll have to switch broadband providers before that date.

Here's everything you need to know about the 2023 Virgin Media price increase.

How much is Virgin Media's 2023 price increase?

Virgin Media's price hike for the average customer in 2023 is a huge 13.8%. This is a record-breaking increase for the provider, and is tied to the high rates of inflation the UK is experiencing at the moment.

Depending on how much you pay for your current Virgin Media package, your price could go up by at least £2-3 per month. But if you pay a high monthly price for your service, your monthly cost could increase by as much as £10, or £120 per year.

Which Virgin Media customers are affected?

The price hike is applied to almost all customers using Virgin Media broadband, TV or home phone packages once they reach the end of their fixed-term contract. But there's an exception for the following groups:

If you don't fall into one of the above categories, you are one of the millions of Virgin Media customers that will have to pay the 13.8%, which Virgin has said is the 'average' amount, extra from April 2023.

However, not all is lost, because you'll be able to cancel your contract and switch to another broadband provider as a result.

What can Virgin customers do if their prices increase?

If you're affected by the price increase, you are allowed to cancel your contract for free and start looking elsewhere for a cheaper deal as soon as you receive your notification from Virgin.

This is in contrast with other providers, such as BT, Plusnet and EE, who have added an annual price increase of 3.9% above the rate of inflation to their terms and conditions. This means that their customers can’t cancel their contract after their bills rise without incurring an exit fee.

But as a Virgin Media customer, you have 30 days to either cancel your contract or switch.

If you miss the cancellation period, you are left with two options, but neither involve a guarantee that you’ll be able to reduce your current bill:

• Negotiating the terms of your contract with Virgin Media in the hope of receiving an improved deal

• Sticking with your current deal, if it still happens to be the best value offer that you can find

Should I stay with Virgin Media?

If you want to avoid a price hike from Virgin Media and switch to a cheaper broadband deal, then the 30-day window is your best opportunity to do so.

However, it's worth keeping two things in mind:

• Many other providers have mid-contract price increases built into their T&Cs, so you might be stuck with one anyway if you switch to one of those providers. Find out which providers increase their prices each year.

• If you're with Virgin Media because of its internet speed, you might not be able to find another provider that offers the same speed in your area. This is because it operates on its own network, so unless you can also get full fibre broadband where you live, it might be the fastest you can currently get.

Can I cancel Virgin Media for free?

2023 is the final year that you will be able to cancel your contract for free as a Virgin Media customer after a price increase. From April 2024, Virgin Media will have a set price increase in its terms and conditions, much like BT, Plusnet, Vodafone, EE and TalkTalk.

This means that from 2024, you won't be given a window to cancel your contract without cost after a price rise. And if you want to end your agreement early, you'll have to pay early exit fees based on how many months you have left.

So 2023 is the final year that you can cancel your existing Virgin Media deal for free if you're affected by a price rise. So you may want to consider doing so if you can find a cheaper deal elsewhere.

Virgin Media has issued a statement on its new price rise plans for 2024:

“We know that price rises are never welcome, particularly right now, but like many other businesses we are experiencing significantly increased costs while investing to keep pace with growing demand, as broadband usage rose more than 10% last year and speeds increased by 40%. We’re committed to supporting customers in this tough climate and are freezing prices for vulnerable customers including those taking our social broadband tariffs.

“The introduction of inflation-linked price changes, which comes into effect in 2024 when RPI is projected to be at around 1.5%, will give customers clarity and certainty about what to expect from their bills while fuelling the investment required both now and in future. We will be clearly communicating these changes directly to our customers over the coming weeks.”

Why is Virgin Media increasing prices?

Virgin Media's price rises are usually put in place to combat its own increasing prices as a business. There are two main things that cause Virgin's costs to go up:

The biggest driver of its price rises in 2023 by far is the inflation rate, though. With the Consumer Price Index (CPI) at 10.5% — double what it was last year and 13 times higher than the rate two years ago — Virgin Media has increased its prices roughly in-line with this. As have most other providers.

Virgin Media end of contract price hike

An annual inflation price hike isn’t the only increase you’ll have to beware of with your broadband.

Firstly, any annual price increase you receive during your contract term will be added to a new monthly price that you'll have to start paying once your contract ends. Secondly, you'll likely also be moved onto much more expensive ‘out of contract’ prices when your term ends too.

These out of contract price increases can sometimes reach up to 45% on top of the annual price hike rates you would have accumulated too. That's a huge increase in your monthly outgoings once your contract ends.

The good news is, at this stage you’re also completely free to cancel your contract and switch to a new provider at any time.

If your contract with Virgin Media is ending soon, you should have received an end of contract notification in the post or via email detailing your new charges. And if you're already out of your initial contract term, you could already be overpaying for your Virgin service by a very large margin.

End of contract price increases are even bigger

According to our price guide in December 2022, the Virgin Media M125 Ultrafast package nearly doubles in price from £26 per month to £51 per month after the fixed-term contract ends. And the price of its M500 package increased by 63% from £38 per month to £62 per month.

Virgin Media end of contract notification

Any Virgin Media customer whose contract comes to an end will be moved onto increased out of contract pricing. However, if your contract is ending soon, you will receive a notification from Virgin reminding you of your end date and details of new plans you could switch to for a cheaper price.

Keep in mind that your contract ending also means you can shop and compare elsewhere for a broadband deal that better suits you, if you so wish.

The price increase you’re likely to experience if you stay out of contract with Virgin Media is extremely high. So it should reassure you to know that it also means you can re-contract or switch to a new deal any time to avoid the price hike.

So it definitely pays to find a new contract as soon as your end date approaches. Make sure to watch out for your end of contract notification from Virgin Media and compare broadband deals to make sure you’re getting the best service for you and your money.

How to contact Virgin Media

If you’d like to contact Virgin Media — whether that’s to negotiate an improved deal, double check whether you’re affected or just to find out more information — you can get in touch with its customer services team in a number of ways.

• Phone: Speak to Virgin Media’s customer services by calling 0345 454 1111 for free. Opening hours are Mon-Fri 7am-11pm / Sat-Sun 8am-8pm.

• Website: Sign in to your Virgin Media account on its website.

• Live chat: Get in touch with a customer representative at Virgin Media through its Live Chat feature.

• Twitter: Make your inquiry via Twitter by tweeting @virginmedia