- Six suppliers have increased the cost of their Standard Variable Tariff in the last four months
- Dual fuel customers who are affected will see their annual bills go up by an average of £55 or 5%
- With a further cold snap on the way, uSwitch urges energy customers to protect themselves against further price rises by switching to a cheaper deal – potentially saving up to £491.
Energy expert at uSwitch.com, Claire Osborne, says: “Over the last four months, six energy companies have announced that bills for customers on Standard Variable Tariffs will be going up, and it’s possible that other suppliers may follow suit.
“Wholesale and Government policy costs have seen small increases but consumers will still wonder whether suppliers are doing everything they can to keep prices down. 60% of households are on poor-value standard variable tariffs, but they don’t have to accept price rises. By switching away from an expensive SVT to a cheaper deal, they can save up to £491 and protect themselves against future increases.
“Consumers should not be lulled into a false sense of security waiting for a price cap to protect them. They can vote with their feet and save hundreds of pounds right now – far more and far quicker than any price cap is able to deliver.”
Table 1: Recent increases to Standard Variable Tariffs
|Supplier||SVT Tariff Name||Previous SVT price||New SVT price||Difference||Effective from:|
|Good Energy||Good Energy & Gas||£1,167||£1,249||£82||7.0%||18/12/2017|
|ENGIE||Safe And Easy||£980||£1,038||£58||5.9%||04/04/2018|
|E.ON*||E.ON Energy Plan*||£1,123*||£1,153*||£30*||2.7%*||19/04/2018|
Source: uSwitch data, correct as of 15 March 2018
*E.ON – removal of dual fuel and paperless discounts
Find out how you could save over £1,000 a year with uSwitch here.