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Energy bills to go up by 5.2% for 128k more energy customers

The Co-operative Energy has announced a £61 price hike for variable rate customers

energy bill

The Co-operative Energy is one of the latest suppliers to announce it will be hiking prices for its standard variable rate customers.

The 5.2% price rise for an estimated 128,000 customers takes effect 20 August, and equates to £7.8 million added to energy bills nationwide.

While bills are ‘skyrocketing’, customers fight back

More than 19 suppliers have heaped energy price rises on 11 million households so far in 2018 — to the tune of nearly £600 million in increased energy bills. Some suppliers, such as EDF Energy, Bulb and E.ON, have announced more than one price rise.

Rik Smith, uSwitch.com energy expert, said, “The news from Co-operative Energy today is the 25th overall increase announced this year. We have now seen at least one price rise from Britain’s 10 biggest energy suppliers in 2018, as well as hikes from numerous smaller providers.

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“Despite the warm weather it has been a tough year for energy customers who have seen their bills skyrocket by an average of £58 (5.6%).

“But in the face of this relentless barrage of price rises taking standard tariffs to nearly £400 above the cheapest deals on the market, bill payers have been fighting back in record-breaking numbers. According to the latest data, 2.7 million customers have switched so far this year, with record numbers of people going to small suppliers. Now is the time to switch, save up to £482 and protect yourself against future rises.”

What to do if you’re impacted by a price rise

If you’re on a standard variable rate tariff — likely if you’ve just moved or never switched  — from any of the below suppliers, you could be paying hundreds more than you need to for the same exact energy:

Changes to Standard Variable Tariffs 2018

Supplier

SVT Tariff Name

Previous SVT price

New SVT price

Difference

Comes into effect from:

Ebico

Ebico Zero

£1,101

£1,161

£60

5.5%

16th January

Octopus Energy*

Flexible Octopus

£908

£931

£23

2.5%

15th February

iSupply

iVariable

£1,014

£1,090

£76

7.5%

1st March

Pure Planet**

100% Green

£860

£872

£12

1.4%

31st March, 1st May

ENGIE

Safe And Easy

£980

£1,038

£58

5.9%

4th April

Our Power

Our Best

£848

£939

£91

10.7%

4th April

Ecotricity

Green Electricity + Green Gas

£1,201

£1,258

£58

4.8%

14th April

Igloo Energy

IGLOO PIONEER

£845

£871

£26

3.1%

16th April

E.ON***

E.ON Energy Plan

£1,123

£1,153

£30

2.7%

19 April

Bulb

Vari-Fair

£855

£878

£24

2.8%

28th April

British Gas

British Gas Standard Variable Tariff

£1,101

£1,161

£60

5.4%

29th May

Scottish Power

Standard

£1,147

£1,211

£64

5.6%

1st June

EDF Energy

Standard (Variable)

£1,142

£1,158

£16

1.4%

7th June

Ovo****

Simpler Energy

£1,097

£1,150

£53

4.8%

8th June

npower

Standard SC

£1,166

£1,230

£64

5.5%

17th June

Utility Warehouse

Value

£1,125

£1,175

£50

4.4%

1st July

SSE*****

Standard

£1,109

£1,196

£87

7.9%

11th July

First utility

First Variable

£1,131

£1,191

£60

5.3%

23rd July

Bulb

Vari-Fair

£878

£923

£45

5.1%

12th August

E.ON

E.ON Energy Plan

£1,153

£1,208

£55

4.8%

16th August

Co-operative Energy

Green Pioneer

£1,158

£1,218

£61

5.2%

20th August

Tonik

Life Energy

£979

£1,085

£106

10.8%

23rd August

EDF

Standard (Variable)

£1,157

£1,227

£70

6.1%

31st August

Solarplicity

Solarplicity’s Standard Variable

£887

£1,003

£116

13.1%

Mid-end August

Bristol Energy

Standard Variable

£997

£1,079

£82

8.2%

9th September

Average

£1,038

£1,096

£58

5.6%

Source: uSwitch data, correct as of 17th July. Prices based on average annual usage for a dual-fuel tariff, paying by monthly direct debit.

It takes just a few minutes to compare and switch energy supplier. If you’ve never switched before, read uSwitch’s step-by-step guide for first-time energy switchers.

Read more

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£590m added to energy bills so far in 2018

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*Existing SVT customers would have no price change, new SVT customers would receive the higher tariff
**Pure Planet issued two price changes, a price rise and price cut, the table gives the net outcome
***E.ON price change represents removal of £15 per fuel paperless and dual fuel discounts

****OVO also raised prices of white label, regional suppliers such as Peterborough Energy and White Rose, however due to regional variations the price rise will differ per region. Details available upon request.

*****SSE price change includes removal of £6 per fuel paperless discount

 

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