Changes to our variable tariff prices
From 17th May 2018, the price you pay for our variable tariff is increasing. It’s a step we've taken reluctantly and we want to assure all our customers that we're working hard to be as efficient as possible, deliver great service, and help you keep your energy costs down.
1) Why are my prices increasing?
We don’t take these decisions lightly, but the persistently high price of wholesale energy means we've had to put our prices up. The high demand for Liquefied Natural Gas (LNG) in Asia, as well as a cold winter in Europe has kept gas prices high. These two factors coupled with the unusually cold end to February and start to March in the UK, with its higher demand for heating has meant gas prices are now 14% higher than they were in July 2017. Electricity prices are now around 10% higher than they were in July 2017, largely driven by the change in gas price. The UK is still heavily dependent on gas-fired power plants for electricity generation, so higher gas prices mean higher electricity prices too.
2) Are you the only company increasing your prices?
No, it's not just us, the high prices have affected everyone, big and small- from British Gas and EDF, to Scottish Power and SSE, to us.
3) Will our prices ever come down?
We buy our energy wholesale, as early as we can, and we pass the savings on to you.This means we’ve still been able to be cheaper than many of our competitors. It also means that if wholesale prices do come down we’ll always look at possible ways to lower our prices.
4) Are you just going to put up your prices again as soon as you can?
No, not at all, in fact, we’ve waited until after the worst of the winter to make this increase so the impact to you is as small as possible. As demand falls with increasing temperatures, we’ll look to increase the amount we buy wholesale, therefore protecting our prices and insulating our customers as best we can for next winter too!