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Energy price rises continue with First Utility

Energy price rises continue with First Utility

First Utility has become the latest supplier to raise fees for its standard variable tariff customers to the new level set by Ofgem's price cap from 1 April.

This means that, along with Brighton-based TOTO Energy, First Utility has become one of the first 'smaller' suppliers to price its standard variable tariffs as far as the price cap will allow it to.

The price rise, which equates to 10%, is due to affect many of the supplier's 800,000 customers, who will now be charged £1,254 per year for their energy - £117 more than they were previously being asked to pay.

Beat the energy price rises

All of the big six suppliers have raised their prices following the Ofgem price cap increase. Don’t get caught out - switch to a fixed deal today!

Energy price cap woe for consumers

This is the latest price rise to hit energy consumers across the UK, with half of all households currently on a standard variable tariff. All of the big six energy suppliers have raised their prices, with smaller suppliers increasingly following suit to ensure they're not left behind.

Rik Smith, energy expert at uSwitch.com, said: “This latest move by another challenger supplier is evidence that the price cap is doing more harm than good - and time is running out for households to switch before the price rises kick in.

“Most suppliers are likely to set their standard tariff prices according to the way Ofgem calculates the price cap, which makes it more difficult to avoid passing price increases on to default tariff customers. This leads to the bizarre situation we now seem to be in, where wholesale costs are actually falling yet suppliers are still hiking their bills - although several companies are now offering other cheaper fixed and variable tariffs as a result, which is the escape route for consumers."

What can consumers do about energy price rises?

Rik says: “It takes just a few minutes to compare and find cheaper deals, including fixed tariffs which mean households don’t have to worry about potential six-monthly price changes thanks to the cap. The whole switching process will be completed in around 17 days, including a two week cooling off period if you change your mind. So switching today means you shouldn’t be affected by the bill hikes, you’ll save around £300 on average, and if you switch through uSwitch we’ll take care of the whole process for you.”

If you're a standard variable or prepayment tariff customer due to be affected by price rises on 1 April and you're willing to take part in a media interview (in exchange for some shopping vouchers), we'd like to hear from you - please email us at casestudy@uswitch.com with your details.

Beat the energy price rises

All of the big six suppliers have raised their prices following the Ofgem price cap increase. Don’t get caught out - switch to a fixed deal today!

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