Press release:

GB Energy raises prices by 30%

GB Energy Supply has confirmed it has raised standard dual fuel variable tariff prices by 30%, from £820 to £1,060 a year[1]. Commenting on the news, Claire Osborne, energy expert at uSwitch.com, says: “This is an eye-wateringly large price hike for GB Energy’s standard variable rate customers, making this tariff almost as expensive as the average big six variable plan. The supplier has raised the price of this deal twice since July, meaning some customers will now be paying almost £300 a year more than they were just three months ago.

“Co-operative Energy was the first large supplier to increase variable prices in two years and, with GB Energy’s latest hike, we could see more providers follow suit. Rising wholesale prices are appearing to have a particular impact on medium and small suppliers, forcing many to also increase the cost of their cheapest deals.

“But there are still many competitive tariffs available on the market – for now at least – although they may not be around for long if wholesale prices continue rising. Consumers concerned about their energy bills going up, especially as we head towards winter, should shop around for fixed deals which provide protection against potential price rises.”

— ends —

Notes to editors

The increase in price for GB Energy Supply’s standard variable tariff is the second rise since July. It went from £765 to £820 on 25th July, and has now reached £1,060. The price of GB Energy Supply’s fixed tariff has also increased by £100, going from £850 to £950. Earlier this month, Co-operative Energy became the first major energy supplier to raise its standard tariff prices since 2014.

  1. Table 1: GB Energy’s recent standard variable tariff changes 
Tariff name Premium Energy Saver
Date launched 28th January 25th July 13th October
Cost £765 £820 £1,060

Source: uSwitch.com

Average big six standard variable duel fuel plan is £1,064. 

  1. Table 2: GB Energy’s recent fixed tariff price changes
Tariff name Fixed 12 Month Diamond Fixed 12 Opal
Date launched 5th October 2016 11th October 2016
Cost £850 £950

Source: uSwitch.com

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