British Gas is putting its prices up by 5.5% or £60 for gas and electricity from 29th May
4.1 million dual fuel customers’ bills will go up from £1,101 to £1,161 a year – the equivalent of almost £246 million across the country
British Gas blames rising wholesale gas and electricity costs and Government policy costs
Its standard tariff will now be £369 more expensive than the cheapest deal on the market
Energy customers could save up to £491 by switching supplier.
British Gas has announced an increase to the price of its standard dual fuel tariff for both British Gas and Sainsbury’s Energy customers. The increase of 5.5% will add £60 a year to bills. Today’s news will affect over 4.1 million customers, adding a total of almost £246 million per year to household bills.
Commenting on the news, Claire Osborne, Uswitch.com energy expert, says: “This rise is a bolt from the blue for the four million customers on British Gas’ Standard Variable Tariff. While many are still counting the cost after a long and cold winter, they will be wondering whether British Gas have taken the opportunity to use the prepayment price rise as an excuse to increase rates ahead of a potential wider price cap.
“Likewise, British Gas is also raising prices on its new default ‘Temporary Tariff’ by the same amount. With the difference between the two deals a mere £25, it’s important that customers are aware that neither the SVT nor the Temporary Tariff offer anything close to a good deal.
“The danger now is that the rest of the big six may be tempted to follow suit. Customers can send the clearest message that they won’t tolerate being taken for a ride by switching supplier to a cheaper tariff, with savings of up to £491 on offer.”
Find out how you could save over £1,000 a year with Uswitch here.
£60 x 4,100,000 = £246 million
Cheapest tariff as of 10 April 2018 is Utility Point at £792. £1,161 - £792 = £369.
Between 1 April 2017 and 30 Sep 2017, at least 10% of people who switched energy supplier for both gas & electricity with Uswitch saved £491 or more.
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