SSE prices to rise 7% from April – act now to avoid overpaying
SSE has become the latest supplier to announce a massive hike in energy prices.
The Big Six firm has announced dual fuel prices will rise by an average of 6.9% from 28 April, leaving millions of households facing higher bills.
A typical dual-fuel customer, paying monthly by direct debit and on paperless billing, will see bills soar £73 – from £1,069 a year to £1,142.
Despite the rampant price hikes – SSE’s move follows announcements from Npower, Scottish Power, E.ON and EDF – this is still around £200 pricier than the market’s cheapest deal.
To beat the hikes and bag a good deal, compare energy prices and switch today (lock your prices in with a fixed deal to guard against any further price hikes).
Gas-only customers won’t be affected but electricity rates will soar by 15%.
91% of SSE’s customer base – 3.8 million customers – are stuck on the supplier’s standard tariff.
SSE say the hike will affect 2.8 million people, but won't affect customers on fixed or prepaid tariffs.
From 1 April, SSE’s prepaid gas prices will plummet by an average of 13% in response to regulator Ofgem’s price cap.
SSE blamed the price rise on the escalating costs of supplying electricity.
It pointed out that it had reduced gas prices three times since 2013 and slashed electricity prices once.
To protect vulnerable households, SSE has launched a £5m fund to provide financial support.
Will M&S Energy customers be impacted by this price change?
SSE also runs M&S Energy, which is ultimately just a branding wrapper.
Customers of M&S Energy will also be affected by the price hike.
If you're with M&S, run a comparison and find a cheaper deal.
What do SSE say?
SSE’s Will Morris said: “We deeply regret having to raise electricity prices. This is the first increase since 2013 and we’ve worked hard to keep them down for as long as possible by cutting our own costs, putting in place a winter price freeze and holding gas prices, but we have seen significant increases in electricity costs which are outside our control.
“Without an increase we would have been supplying electricity to domestic customers at a loss.
“We know that any increase can add extra pressure on customers’ bills so we’re launching a £5million fund to provide assistance to those who are struggling with their bills, in addition to the existing £46m that SSE already spends helping customers through the Warm Home Discount.
“Anyone worried should contact our advisors so we can ensure they benefit from any support available to them.”
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