SSE becomes last of Big Six to raise prices
SSE has lifted its tariffs to the level of the price cap (£1,254) from 1st April 2019 for customers on its Standard, Pay
As You Go (prepayment) and Energy Assist tariffs. The higher tariff will remain in effect until 30 September when it will be reviewed again by Ofgem.
WeFlip estimates that 2.1m customers will be affected. This could see households paying a collective £1.29 billion extra on their energy bills from April.
Stephen Murray, energy expert at MoneySuperMarket, said: “This was to be expected but it’s still grim news for millions of people already paying too much for their energy bills.
“The only way for people to protect themselves is to switch now and secure a cheaper deal with a different supplier. This round of price rises doesn’t take effect until 1st April so now is the time to act – it takes five minutes online to switch.”
£116 rise for 2.1m people
Sally Jaques, head of energy at weflip said: “This rise will affect around 2.1 million customers on the providers’ standard variable tariff, seeing the average dual fuel bill rise by £116.24, a total of over £248 million.
“From April we could be witnessing over 11 million households paying a collective £1.29 billion more for their energy bills, which seems ludicrous when this cap was introduced to help lower the average bill. With the cheapest available tariff currently sitting at £338 less than the new cap, those on an SVT with any supplier should be looking to beat the price cap and consider their options.”
Richard Neudegg, head of regulation at uSwitch.com, said the energy price cap risked encouraging suppliers to price default plans up to it: “But these price rises aren’t compulsory. Consumers need to know that they can switch, quickly and easily, and make savings of up to £324. Choosing a fixed deal also protects people from unexpected bill hikes and the confusion of twice yearly price changes under the cap.”