British Gas price hike set to hit 4 million customers

British Gas customers will pay an extra £119 on average in annual bills as the company is to put up prices. 

British Gas customers will pay an extra £119 on average in annual bills as the company is to put up prices. 

British Gas joins three other Big Six energy suppliers in increasing their standard variable tariffs in line with Ofgem’s price cap increase. 

Their prices will go up by 10.5%, which will see the average dual fuel bill increase by almost £120 a year. This takes the yearly bill of standard variable tariffs (SVT) customers to £1,254. 

The other Big Six suppliers who have already announced price increases are EDF, Eon, and Npower. However, given the size of the British Gas customer base, this latest increase will affect most people.  Almost four million people will be hit by the price increase, which comes into effect on 1 April – but it’s no joke for those already struggling to pay the bills. 

According to uSwitch and seen on This is Money, a combined eight million customers will pay more for energy to British Gas, EDF, Eon and Npower due to price cap increases. 

Those who use prepaid meters to heat their homes will also pay more. They’re expected to pay on average an extra £107 per year, a 9% increase. 

Customers can still save money by switching energy suppliers before the price cap comes into effect later in the year. 

Ofgem is set to review the price cap again in October 2019, potentially bringing more bad news for average consumers. 

 

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