March 13, 2017
SSE has become the latest big energy supplier to put up its energy prices. Unless loyal customers switch their energy supplier, from April 28th they will be charged 14.9% more for their electricity. Gas prices will remain the same.
This is SSE first electricity price rise for three and half years.
SSE has said that 2.8 million customers will be affected and the typical dual fuel customer could see their annual bill rise by 6.9% or £73.
SSE blamed the increase on government policies and the cost of smart meter installation.
Four of the other "Big Six" suppliers have already announced price rises this year, while British Gas has held prices until August 2017.
• E.On is increasing electricity prices by an average of 13.8%, and gas prices by 3.8%, on 26th April.
• EDF Energy cut its gas prices by 5.2% in January but its electricity prices rose by 8.4% on 1st March.
• British Gas is freezing its gas and electricity prices until August.
• Npower is raising its standard tariff electricity prices by 15% from 16th March and gas prices by 4.8%.
• Scottish Power's standard electricity prices will increase by an average of 10.8% and gas by 4.7% on 31st March.
While making its announcement, SSE said it was launching a £5m fund to provide "additional financial support for those who need it most." No further information has been given on when this will launch.
The managing director of its retail division, Will Morris, said: "We deeply regret having to raise electricity prices.
"This is the first increase since 2013 andnergy bills. we've worked hard to keep them down for as long as possible by cutting our own costs, putting in place a winter price freeze and holding gas prices, but we have seen significant increases in electricity costs which are outside our control.
"Without an increase we would have been supplying electricity to domestic customers at a loss."
The message is clear - Switch supplier
In the UK there are around 20 million customers on standard tariffs and it is usually with a big supplier. SSE said that as much as 85% of its customers were on its standard variable tariffs, so they will be affected by April's price rise.
Last December, industry regulator Ofgem published figures showing how much money customers could save by moving from a standard variable tariff to their supplier's cheapest fixed tariff. For SSE customers that was £98 a year. After this price rise this will be more. Switching energy supplier is simple. You can arrange it online or you can call one of our advisors who can arrange it for you and can answer any questions that you might have. The number to call is 01259 220000. If you're affected, act now and out what you could save today.
Posted on March 13, 2017 at 04:06 PM