SSE to hike prices by £116 for 2.1million customers as all big six energy firms increase costs for customers
SSE has become the latest - and last - of the big six energy suppliers to hike bills for 2.1million customers.
It follows in the footsteps of Scottish Power and British Gas who pushed up prices on Tuesday, and Eon, EDF and Npower, who announced hikes last week.
The price rises will affect households who are on its standard variable tariff, adding another £116 a year to bills.
From April 1, bill payers face forking out £1,253 a year on average for their gas and electricity supply, up from £1,137.
Prepayment customers who top up a metre to pay for their energy will also see their bills rise by nine per cent, adding an extra £106 a year.
Providers have inflated prices to the same level as energy regulator Ofgem's new standard variable and prepayment meter price caps, which take force from the start of April.
I saved £372 with Switchcraft
TEACHER Peter Fox, 36, saved £372 when he switched through Switchcraft.
Peter, who lives in Stockton-on-Tees, said: “There’s no need to do anything really, I found Switchcraft dead easy, really straight forward, and it was an extremely quick way to switch supplier.
“For very little effort I’ve saved £372 and I’ve been moved onto the renewable energy provider, Pure Planet, which is an extra bonus”.
He now plans to use the money he saved towards a holiday to Las Vegas with his wife Catherine, 34.
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A fiver will be paid into your bank account within four months of completing the switch. prepayment meter customer customers will receive a £5 Amazon voucher. Open to those 18 and over. UK residents only. Click here for full T&Cs.
Richard Neudegg from the site, said: "Energy customers should be under no illusion that these standard tariffs represent a good price for energy.
"We could be looking at a total price rise of almost £1.7 billion - one of the biggest hikes on one day in nearly a decade."
If you are considering changing your supplier, then these are the cheapest tariffs you can switch to ahead of Ofgem's price cap
Last year saw six small energy firms fail - Extra Energy, Spark Energy, Future Energy,National Gas and Power, Iresa Energy, Gen4U, Usio Energy, One Select and Economy Energy.
How to switch suppliers and save
SWITCHING suppliers is the best way you can cut your energy bills. Here's what you need to do.
1. Shop around - If you're on an expensive Standard Variable Tariff (SVT) deal you are throwing away up to £300 a year. Use a comparison site like MoneySuperMarket.com or EnergyHelpline.com to see what best deals are available to you.
The cheapest deals are usually found online and are fixed deals - meaning you'll pay a fixed amount usually for 12 months.
2. Switch - When you've found one, all you have to do is contact the new supplier.
It helps to have the following information to hand - which you can find on your bill - to give the new supplier:
- Your postcode
- Name of your existing supplier
- Name of your existing deal and how much you pay
- An up-to-date meter reading
It will then notify your current supplier and begin the switch.
It should take no longer than three weeks to complete the switch and your supply won't be interrupted in that time.
For more advice read our guide on how to switch.
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