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SSE completes big six price increases to standard tariffs affecting nearly 2.4 million customers

  • SSE is raising gas and electricity prices for nearly 2.4 million customers from 11 July

  • The 6.7% price hike is the biggest by any of the ‘big six’ suppliers

  • Bills will increase by as much as £87 from £1,109 to £1,196 – the equivalent of £179 million nationwide

  • SSE blames rising wholesale and policy costs for the increase

  • The move follows hikes from British Gas, EDF, Scottish Power and npower, and removal of online discounts by E.ON

  • The average ‘big six’ tariff will now be £396 higher than cheapest deal on the market

  • Households are urged to show energy companies they won’t be taken for granted and save up to £491 by switching supplier.

SSE has raised the price of its Standard Variable Tariff by as much as £87 for some of the 2.4 million SSE and M&S energy customers affected. This includes the removal of the £6 per fuel paperless discount for all of their variable plans and new fixed plans. The move means that all of the ‘big six’ have now upped the cost of their most expensive deals – either through price hikes or by removing online discounts. SSE’s announcement means that from 11 July they will be raking in an extra £179 million annually across the country.

Commenting on the news, Claire Osborne, Uswitch.com energy expert, says: “SSE may be the last of the ‘big six’ to increase its most expensive deal, but it certainly hasn’t been shy about it – hiking prices by nearly £90. This is more than all the other big energy suppliers, with the company blaming rising wholesale and policy costs.

“Nearly 2.4 million customers who are already paying over the odds on standard variable tariffs will now be paying even more. A whopping seven in ten SSE customers were on these eye-wateringly expensive tariffs at the last count, a higher proportion than any other ‘big six’ supplier.

“We’ve heard very little from any of the ‘big six’ about what they’re doing to get households onto genuinely competitive deals. Some are paying lip-service by introducing new ‘default tariffs’ which cost almost as much, but are doing nothing to actively move existing customers from standard tariffs onto genuinely good deals.

“For many households this will be the last straw. Other suppliers are offering deals up to £407 cheaper than what SSE’s standard tariff will cost from 11 July. Anyone who is affected should join the five million households who are now switching every year, and save up to £491 by moving to a cheaper tariff.”

Table 1 – changes to ‘big six’ Standard Variable Tariffs 2018

Source: Uswitch data, correct as of 29 May. Prices based on average annual usage for a dual-fuel tariff, paying by monthly direct debit.

E.On price change represents removal of £15 per fuel online discounts.

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

Find out how you could save over £1,000 a year with Uswitch here.

FOR MORE INFORMATION

Rory Stoves
Phone: 020 3872 5613
Email: rory.stoves@uswitch.com
Twitter: @UswitchPR

Notes to editors

  1. See Table One - changes to ‘big six’ standard variable tariffs 2018

  2. 2.36 million customers x £76 = £179 million

  3. Current average price of all 'big six' monthly direct debit plans is £1185. The current cheapest deal is Eversmart Energy - Northen Glory, average bill size is £789. £1185-£789=£396

  4. www.uswitch.com/faqs/savings-messages/

  5. Source: Ofgem - Standard Variable Tariffs: Latest trends at September 2017

  6. Cheapest tariff data, correct as of 29 May 2018

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