Over the past few years, energy prices have increased across the energy industry. This article will explain what this means for you and your energy statements (bills).

Will my Bill increase?

Fixed tariff

If you are on a fixed tariff, your price will remain the same until the end date of your tariff, a fixed tariff gives you peace of mind and confidence that the price you pay for energy will remain the same. However, with winter coming your usage might increase which does affect your bill. To read more about how your usage impacts your bill, read here!

If you are near the end of your tariff 

If your fixed tariff is coming to an end soon, you will most likely see an increase in your renewal price.

I'm at the end of my contract and my renewal price is a lot higher than my current monthly payments, why have my monthly payments increased so much?

  • When we calculate your renewal price there are 2 elements that are used; your estimated annual usage and the tariff rates
    • We calculate your estimated annual usage based on your meter readings over the past 12 months (or for the time you have been on supply with us), if you've been providing us with regular monthly readings or we take smart reads remotely, this will ensure this figure is as accurate as possible!
    • Your tariff rates are what you pay per unit of energy (in kWh) and the standing charge per day.
    • This means that while your estimated annual consumption may not have changed, the changes in unit rate and daily standing charge may cause your monthly payments to increase.
  • We understand the impact that price hikes may have, especially on those vulnerable, so if you are facing financial difficulty, please contact us to discuss a solution that works best for you.

Why are prices increasing?

So Energy always tries to provide you the best price possible. The vast increase in wholesale costs (where we buy your energy) means that we are forced to increase the prices we charge you.

While we - and most energy suppliers - will pass any savings on to our customers and absorb rises in wholesale costs in order to keep things affordable, there are times when you’ll see an increase in what you’re paying. This is generally unavoidable, and as an energy supplier not something that we like having to do.

The increase in gas and electricity prices over the last years are driven by wholesale costs going up as a result of various socio-political and environmental factors across the world.