This week sees SSE become the latest ‘Big Six’ supplier to announce double digit price increases http://www.bbc.co.uk/news/business-39253699 they follow Npower on the 3rd of Feb http://www.bbc.co.uk/news/business-38852517 Scottish Power on the 10th Feb http://www.bbc.co.uk/news/uk-scotland-scotland-business-38930236 and Eon on the 7th of March http://www.bbc.co.uk/news/business-39192297 British Gas have promised not to raise their prices until later in the year, but they will http://www.bbc.co.uk/news/business-38931218 and back in December EDF announced a combination of an increase to Electricity prices and a cut to Gas prices http://www.bbc.co.uk/news/business-38338360 which equates to an overall increase, albeit the smallest amongst its peers.
The trend is definitely an upward one, certainly within the ‘Big Six’, but what is happening elsewhere? These headline grabbing price increases inevitably attract media attention and the impact of this information rightly causes concern and possibly even resignation to the fact that we are all going to end up paying a lot more for are Gas and Electricity. However, what is happening at the other 50+ energy suppliers now servicing the domestic energy market in the UK? Are they all announcing massive price increase too?
http://www.bbc.co.uk/news/business-39095434 There are certainly a few other suppliers announcing price increases, but interestingly the bulk of the smaller, independent, often UK based suppliers, for now at least, are sticking with what are increasingly competitive prices. Importantly as well, more people are actually switching. The latest figures available from the government https://www.gov.uk/government/statistical-data-sets/quarterly-domestic-energy-switching-statistics show that for the 9 months up to September 2016 switching was up by 27% year on year, hitting a six year high, the highest level it has reached since the ‘Big six’ stopped doorstep selling in 2011. This however is still only 14.4% of UK domestic supplies. Meaning over 85% of you still didn’t switch our energy supplier in the last year…
The message, as ever, is a simple one. Pick up the phone, or get online, do a price comparison, find a supplier cheaper than the massively increased ‘Big six’ and switch. You can save as much as 35%, or £450 off your bill (based on average consumption) against a standard variable tariff if you choose an online tariff paying by monthly direct debit (see table below, correct as of 16/03/2017).
Beat the ‘Big Six’ big prices increases by being with another better, cheaper, supplier go to https://compare.energyangels.co.uk/ and find out for yourself.