SSE has announced a price rise of 6.7% for 2018, affecting nearly 2.4 million customers.
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Latest price change — 2018
In May 2018, SSE announced a price rise of 6.7% for its nearly 2.4 million standard variable rate customers.
The hike breaks down to 5.7% increase for gas and 7.7% increase for electricity rates, and impacts all customers of SSE energy suppliers, including M&S Energy.
The supplier also announced it would be removing its £6 per fuel, per year discount for paperless billing. This results in a 7.9% overall increase, or around £87 per year per household.
For more details on this supplier, including price history, customer satisfaction scores and where their average bill costs rank amongst the big six, view the SSE page.
The price rise will take effect 11 July 2018
Customers on SSE or M&S Energy standard variable rate tariffs, or those on a fixed plan eneding soon, will see their rates increase by 6.7% on average from mid July.
What should I do about the SSE price change?
Customers are urged to use an accredited energy comparison site such as uSwitch to check for cheaper gas and electricity deals in their area as soon as possible to avoid overpaying.
If your prices have increased, compare energy deals now to see how much you could save.
Claire Osborne, uSwitch.com energy expert, says: “SSE may be the last of the ‘big six’ to increase its most expensive deal, but it certainly hasn't been shy about it - hiking prices by nearly £90. This is more than all the other big energy suppliers, with the company blaming rising wholesale and policy costs.
“Nearly 2.4 million customers who are already paying over the odds on standard variable tariffs will now be paying even more. A whopping seven in ten SSE customers were on these eye-wateringly expensive tariffs at the last count, a higher proportion than any other ‘big six’ supplier.
“We’ve heard very little from any of the ‘big six’ about what they’re doing to get households onto genuinely competitive deals. Some are paying lip-service by introducing new ‘default tariffs’ which cost almost as much, but are doing nothing to actively move existing customers from standard tariffs onto genuinely good deals.
“For many households this will be the last straw. Other suppliers are offering deals up to £407 cheaper than what SSE’s standard tariff will cost from 11 July. Anyone who is affected should join the five million households who are now switching every year, and save up to £447 by moving to a cheaper tariff.”
Why did SSE raise their prices?
SSE stated that the price increase reflected 'sustained increases in wholesale and policy costs' — costs the supplier says are largely outside of its control.
Previous price rises from SSE
A price rise of 7% — 14.9% for electricity rates; no change for gas rates — that impacted nearly 4 million customers (more than 90% of SSE's customer base) was announced in early 2017.
SSE customers on their standard, dual fuel plans at that time saw an increase of £73 per year for the average energy user.
At the time, SSE blamed the price rise on government policies that subsidise energy from renewable sources and the cost of smart meter installation.
SSE also said government policies that subsidise the feed-in tariff scheme for homeowners, allowing solar panels to be installed on their roofs, was a contributing factor.
SSE stated that it was their first price rise in over three-and-a-half years, and said they would have been operating at a loss had they kept prices as they were.
Who else raised their energy prices in 2017?
Aside from SSE there were a few price rises from energy suppliers in 2017, including, but not limited to the big six: ScottishPower, Npower, EDF Energy, British Gas and E.ON.
- ScottishPower's standard electricity prices increased in March 2017 by an average of 10.8% and gas by 4.7%
- Npower raised its standard tariff electricity prices in March 2017 by 15% and gas prices by 4.8%
- EDF Energy's dual fuel prices rose by 1.2% in March 2017 and again in June by 7.2% on standard variable rate tariffs, however they cut gas prices by 5.2% at the start of 2017
- E.On increased electricity prices in April 2017 by an average of 13.8%, and gas prices by 3.8%
- British Gas raised electricity prices by 12.5% in September 2017 after stating earlier in the year that they would freeze prices until August 2017
If you’re with any of the above energy suppliers or your bill has seen a spike in recent months, you should Compare and switch your energy today. Even if your price has stayed the same, you should still compare the market to see if you could save.
Will SSE raise energy prices in 2019?
Recent trends would suggest that price rises are inevitable. It's a case of when, rather than if.
According to official figures, there are around 20 million customers on standard variable rates. These rates are usually the most expensive out there. By switching to a fixed rate deal, customers could be saving hundreds of pounds on their annual bill.