Martin Lewis says "the picture is grim" as SSE hikes energy prices

MONEYSAVINGEXPERT.COM

Cutting your costs, fighting your corner

For immediate release 13 March 2017

Responding to the news that SSE is to put up its prices by an average 6.9% on 28 April, Martin Lewis, founder of MoneySavingExpert.com, whose Cheap Energy Club has 2.7 million members, says:

“We now have a true level playing field for comparison, as SSE is the last of the big six firms to announce its pricing intentions.

“Five have announced hikes, and British Gas is freezing prices until August, and will, I suspect, increase prices then.

“And the picture is grim – everyone on a standard tariff from the big six, including British Gas, is being ripped off.A typical SSE customer will see their bills jump from £1,068 to £1,129 a year, pretty similar to the rest of the firms after hikes.

“Our cheapenergyclub.com shows the cheapest tariff on the market would cost you £834 for exactly the same, and all the cheap deals are one-year fixes, so you’re guaranteed no price hikes.”

Spring 2017 announced price changes

FIRM

ANNOUNCED HIKE (1)

AVERAGE DUAL FUEL STANDARD TARIFF BILL AFTER HIKES (2)

British Gas

Frozen till Aug 2017

£1,044

(no change)

Npower

- Gas increase of 4.8% from 16 March

- Electricity increase of 15% from 16 March

Average dual fuel increase of 9.8%

£1,187

EDF

- Gas cut of 5.2% from 6 January

- Electricity increase of 8.4% from 1 March

Average dual fuel increase of 1.2%

£1,082

E.on

- Gas increase of 3.8% from 26 April

- Electricity increase of 13.8% from 26 April

Average dual fuel increase of 8.8%

£1,144

Scottish Power

- Gas increase of 4.7% from 31 March

- Electricity increase of 10.8% from 31 March

Average dual fuel increase of 7.8%

£1,167

SSE

- Gas increase of 0%

- Electricity increase of 14.9% from 28 April

Average dual fuel increase of 6.9%

£1,129

(1) Percentage change based on regulator Ofgem’s typical use, weighted average across all payment methods.

(2) Typical dual fuel bill after hikes, based on Ofgem's typical use, dual fuel, monthly direct debit and paperless billing.

MoneySavingExpert.com’s top tips for switching energy supplier

1. Check if you’re on your supplier’s cheapest tariff. MSE’s Cheap Energy Club has a new tool which will show you only deals from your current provider.

2. Switching’s easier than you think. It’s the same gas, same electricity. You won’t be cut off and they don’t need to send engineers round to tinker with your meter. Just fill in your details, give a meter reading and the companies do the rest.

3. You can still switch if you have a prepay meter. Standard meters are cheaper than prepay, and the big six (and some smaller suppliers) have stopped charging to swap you to one, though most people require a credit check. See ourCheap Prepaid Gas & Elecguide for full info.

4. It’s cheaper to pay by direct debit. Suppliers charge about 7% less if you pay this way.

5. Always give regular meter readings to get accurate bills. If you don’t, you’ll get an estimate and you could end up with overly inflated monthly payments, or face a bill shock if you’ve not paid enough.

-ends-

Notes to editors

To save on energy, users should…

· Do afull market comparison via MSE's Cheap Energy Clubto see how much they could save after factoring in the price rises.

· OR if they’re confused by the array of deals, ourtop-picks comparisonincludes reviews of a few select tariffs and help on which to choose.

Spokespeople are available for broadcast interviews and further commentary on request.

For more comments, please contact:

Katie Watts

Tel: 020 3846 2631

Mob: 07875 415 378
katie.watts@moneysavingexpert.com

About MoneySavingExpert.com: MoneySavingExpert.com is dedicated to cutting consumers’ bills and fighting their corner. The free-to-use consumer finance help resource aims to show people how to save money on anything and everything, and campaigns for financial justice. Set up in 2003 for just £100, its free-to-use, ethical stance quickly made it the UK’s biggest independent money website, according to internet ranking site Alexa.com, and the number one ‘Business and Finance – Business Information’ site, according to Hitwise. It has more than 12 million people opted-in to receive the weekly Martin’s Money Tips email, and more than 15 million unique monthly site users who visit more than 26 million times a month. In September 2012, it joined the MoneySupermarket.com Group PLC.

About Martin Lewis: Martin Lewis OBE, Money Saving Expert, is the journalist and consumer campaigner who created MoneySavingExpert.com, the UK’s biggest money website. He’s the UK’s most internet-searched man, Citizens Advice’s Consumer Champion of the Year, and has spearheaded major financial justice campaigns including bank charges reclaiming (over six million template letters downloaded) and PPI reclaiming (over five million) and a successful large-scale campaign to get financial education in schools. He has his own prime-time ITV programme, The Martin Lewis Money Show, as well as regular slots as resident expert on Good Morning Britain, This Morning and Radio 5 Live, among others.He was appointed OBE in the Queen’s Birthday Honours in June 2014.