Five million British Gas and Scottish Power customers see energy price hike of 10.5%
19th February 2019 | Residential Energy
British Gas and Scottish Power are the latest Big Six energy suppliers to announce they are increasing their standard variable tariffs after Ofgem upped the price cap. British Gas is raising its prices by 10.5 per cent, which will see the average dual fuel bill increase by £119.12 a year – costing the average SVT customer £1,254 a year.
Scottish Power is also raising its prices by 10 per cent – £117 a year – meaning its standard plan will also cost on average £1,254. The price rise will come into effect on 1 April and will hit nearly 5 million households – 3.9 million British Gas customers and 900,000 Scottish Power customers.
Thanks to the size of British Gas, it will comfortably be the largest amount of people affected. EDF, Eon and Npower all announced last week they are putting up their SVT tariffs in response to the price cap change, with one expert last week warning of the domino effect.
Sally Jaques, head of energy at We Flip, said, “British Gas customers on the supplier’s SVT are in for an inflation busting hike to their energy bills, which will see the average SVT rise by 10.5 per cent for a dual fuel tariff, from April.
“As well as affecting the biggest number of customers, British Gas has announced the highest increase so far, following on from EDF, Eon and Npower, who all announced rises of up to 10.27 per cent last week, in response to the government’s price cap increase. More people than ever before have been switching energy suppliers to find better deals, but as figures form the past few days show, there are still far too many people sticking with expensive SVTs.”
British Gas prepayment meter customers will also face a hike of £107 a year – an increase of nine per cent, while Scottish Power prepayment meter customers will also face a £106 price rise.
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