Thursday 21 February 2019 9:43 am

Electric avenue: SSE becomes last Big Six supplier to hike energy prices after Ofgem price cap rise

Follow August Graham
The energy market completed the set this morning as supplier SSE became the last of the Big Six to say it will hike prices.

The move comes exactly two weeks since Ofgem increased the rate which suppliers are allowed to charge customers on default tariffs for their energy.

Read more: Ofgem price cap: What to do if your energy bills shoot up

SSE follows the rest of the so-called Big Six energy suppliers, after British Gas and Scottish Power upped prices on Tuesday.

It means that 11m households across the UK which are supplied by the Big Six will face higher energy bills from 1 April, sharing a combined increase of £1.3bn according to switching service Uswitch.

Tony Keeling, SSE’s chief operating officer, said the company regrets raising its tariffs “but with wholesale costs having steadily increased, as shown by Ofgem’s calculations, we need to pass these on in our prices.”

Read more: Price cap: Four of the Big Six energy suppliers hike prices

Consumer group Which’s managing director of home services said: “Two in five UK households will now be collectively hit with a billion-pound price hike when their energy bills increase on 1 April.

“This is a huge blow for those who thought they would be protected by the regulator's price cap. Anyone staring down the barrel of this sharp rise should look to switch to a better deal now – before their bills go up.”

Share


Tags: