UK Energy Price Rises Report 2017
In recent months, five of the UK’s ‘Big 6’ energy providers - npower, E.ON, Scottish Power, SSE and EDF – have announced price rises for those on standard variable tariffs, with the sixth - British Gas - freezing its prices until August.
The majority of energy customers in the UK are on standard variable tariffs – 66% according to Ofgem1 – and most of those have never switched their energy supplier. This means that if you have never switched it is likely that you are on a standard variable tariff, and could well be one of the 12 million2 customers affected.
But who exactly has been hit the hardest by these price rises, and what will the real impact be?
The financial impact of the price rises
The most significant rise to date came from npower, whose standard variable rate dual fuel (gas and electricity combined) customers saw a 9.8% rise in March.
The average increase suffered by all those Big 6 dual fuel customers who have been affected stands at 8.4%, with annual bills rising by an average of around £97.