2018 worst year for price rises – here’s how to beat them

price rises

It seems a week hasn’t gone by this year without a price rise hitting the headlines.

As this year draws to a close, we thought we’d look back and try and make sense of the biggest year of price hikes on record.

Who raised their prices?

Our own research has found that 2018 had a grand total of 57 price rises. This is the worst year on record – in 2017 there were only 15 price rises.

This added £840 million added to people’s bills, around £74 per household.

Energy price rises have added around £74 to bills

The Big Six all raised their prices but the worst offenders were in fact some of the smaller suppliers. Economy Energy upped prices by a huge £311.

Three suppliers, Bulb, Outfox the Market and Pure Planet raised their prices three times.

Our price rise research has appeared today in the Guardian, This is Money, the Mirror and the Sun.

Top Five Price Jumps

These are the worst jumps we’ve seen as a result of one or two rises.

#Energy supplierTariffPrevious SVT priceNew SVT priceDifference (£)Total Difference (%)
1Economy EnergySwitch Saver£811£1,122£31138.30%
2SolarplicitySolarplicity’s Standard Variable£887£1,141£25426.90%
3Flow EnergyFlow Variable£1,027£1,213£18517.65%
4Green Star EnergyRate Watch£1,038£1,219£18116.70%
5Igloo EnergyIgloo Pioneer£845£1,021£17618.70%

Big Six price rises

The Big Six all raised their prices this year.

#SupplierPrevious SVT priceNew SVT priceDifferenceTakes effect
1E.ON (1)£1,123£1,153£302.7%19 April 2018
2British Gas£1,101£1,161£605.50%29 May 2018
3Scottish Power£1,148£1,211£635.60%1 June 2018
4EDF£1,142£1,158£161.40%7 June 2018
5Npower£1,166£1,230£645.30%17 June 2018
6SSE£1,109£1,185£766.70%11 July 2018
7EON (2)£1,123£1,178£554.80%16 August 2018
8Co-operative£1158£1218£615.20%20 August 2018
9EDF£1,142£1,212£706%31 August 2018

Why have there been so many price rises?

Rising wholesale costs are the main reason given by energy companies.

But the sheer number of price rises we have had over this year compared to previous years suggests there might be more going on.

And it’s to do with the energy price cap.

The price cap was introduced by the regulator Ofgem this year which sets a limit on how expensive a supplier’s standard variable tariff can be. This has been set at £1,137 and comes into force on the 1st of January 2019.

14 of these post-price-rise tariffs are currently higher than the price cap.

It would appear that suppliers are squeezing as much as they can out of their customers before the cap comes in.

Is there a way to escape a price rise?

As we have seen this year, price rises are pretty difficult to keep up with! Across the board, small to large suppliers upped their prices.

You can switch to a fixed deal but once that’s up you have to hunt for a deal and switch all over again.

It’s also important to make the right decision in terms of the supplier you go with.

The Big Six are well-known but do not offer the most competitive deals. While new small suppliers offer great deals but you may not have heard of them.

It’s very tricky to feel confident in the decision you’re making.

Auto-switching is the simplest way to dodge a price rise

auto switching energy comparison

This is where we can help! Sign up by clicking right here

Our auto-switching service Look After My Bills keeps track of your bill price to make sure you never get stung by price rises. If your supplier announces a price hike, we’ll get you switched at the earliest opportunity. You don’t have to worry about a thing.

How is auto-switching different to switching?

We also tackle two of the main bugbears that make switching more taxing than it needs to be.

  1. Unlike a comparison site or finding a one-off deal with your energy supplier, once you’re signed up we do this for you year on year
  2. What makes us different to other auto-switchers? We don’t just move you to any old supplier. We do our research based on rankings, reviews and feedback from our members. It’s important that you go to a supplier you can trust.

To sign up with us at Look After My Bills to avoid over paying for your gas and electricity every again!

 SIGN UP HERE!

All 2018 price rises

#SupplierSVT Tariff NamePrevious SVT priceNew SVT priceDifference (£)Difference (%)Came into effect:
1Ebico (1)Ebico Zero£1,101£1,161£605.50%16-Jan-2018
2Good EnergyGood Energy and Gas+£1,167£1248£817%18-Jan-2018
3Octopus Energy (1)Flexible Octopus£908£931£232.50%15-Feb-2018
4iSupply (1)iVariable£1,014£1,090£767.50%1-Mar-2018
5Pure Planet (1)100% Green£860£908£485.60%31-Mar-2018
6ENGIE (1)Safe And Easy£980£1,038£585.90%4-Apr-2018
7Our PowerOur Best£848£939£9110.70%4-Apr-2018
8EcotricityGreen Electricity + Green Gas£1,201£1,258£584.80%14-Apr-2018
9Igloo Energy (1)Igloo Pioneer£845£871£263.10%16-Apr-2018
10Eon (1)E.ON Energy Plan£1,123£1,153£302.70%19-Apr-2018
11Bulb (1)Vari-Fair£855£878£242.80%28-Apr-2018
12Green Star Energy (1)Rate Watch£1,038£1,109£716.80%1-May-2018
13British Gas (1)British Gas Standard Variable Tariff£1,101£1,161£605.40%29-May-2018
14Scottish Power (1)Standard£1,147£1,211£645.60%1-Jun-2018
15EDF Energy (1)Standard (Variable)£1,142£1,158£161.40%7-Jun-2018
16OVO (1)Simpler Energy£1,097£1,150£534.80%8-Jun-2018
17npowerStandard SC£1,166£1,230£645.50%17-Jun-2018
18Utility Warehouse (1)Value£1,125£1,175£504.40%1-Jul-2018
19SSEStandard£1,109£1,196£877.90%11-Jul-2018
20First UtilityFirst Variable£1,132£1199£675.90%23-Jul-2018
21Outfox the Market (1)Zapp! / Whamm!£807£859£526.40%2-Aug-2018
22Bulb (2)Vari-Fair£878£923£455.10%12-Aug-2018
23Eon (2)E.ON Energy Plan£1,153£1,208£554.80%16-Aug-2018
24Co-operative EnergyGreen Pioneer£1,158£1,218£615.20%20-Aug-2018
25Solarplicity (1)Solarplicity’s Standard Variable£887£1,003£11613.10%20-Aug-2018
26Flow Energy (1)Flow Variable£1,027£1,097£706.80%20-Aug-2018
27TonikLife Energy£979£1,085£10610.80%23-Aug-2018
28Green Star Energy (2)Rate Watch£1,109£1,219£1109.90%28-Aug-2018
29Fischer Energy (1)One Fair Tariff£962£991£292.95%28-Aug-2018
30EDF Energy (2)Standard (Variable)£1,158£1,227£706.10%31-Aug-2018
31Igloo Energy (2)Igloo Pioneer£871£930£595.80%1-Sep-2018
32Spark (1)Digital Saver v1£1,058£1,155£979.20%1-Sep-2018
33Avro Energy (1)Simple Energy£922£993£717.70%1-Sep-2018
34People’s EnergyThe People’s Tariff£864£946£829.50%3-Sep-2018
35Bristol Energy (1)Standard Variable£997£1,079£828.20%8-Sep-2018
36Bristol Energy (2)Standard Variable£1,079£1,144£656.20%9-Sep-2018
37GnERGYGnERGY Standard Variable£1,145£1,248£1049.10%16-Sep-2018
38Solarplicity (2)Solarplicity’s Standard Variable£1,003£1,141£13813.80%25-Sep-2018
39Spark (2)Digital Saver v1£1,155£1,195£403.50%26-Sep-2018
40British Gas (2)Standard Variable£1,161£1,205£443.80%1-Oct-2018
41ENGIE (2)Safe And Easy£1,038£1,117£797.60%1-Oct-2018
42iSupply (2)iVariable£1,090£1,182£928.40%1-Oct-2018
43Pure Planet (2)100% Green£872£921£495.60%1-Oct-2018
44Economy EnergySwitch Saver£811£1,122£31138.30%7-Oct-2018
45Scottish Power (2)Standard£1,211£1,257£463.80%8-Oct-2018
46OVO (2)Simpler Energy£1,150£1,225£756.50%17-Oct-2018
47Ebico (2)Ebico Standard£1,161£1,259£988.40%22-Oct-2018
48Igloo Energy (3)Igloo Pioneer£930£1,021£919.80%25-Oct-2018
49Avro Energy (2)Simpler Energy£993£1,057£646.40%1-Nov-2018
50Outfox the Market (2)Zapp! (subject to usage type)£859£922£637.30%1-Nov-2018
51Utility Warehouse (2)Value£1,175£1,210£353.00%1-Nov-2018
52Fischer Energy (2)One Fair Tariff£991£1,064£837.40%1-Nov-2018
53Bulb (3)Vari-Fair£923£1,025£10211.00%9-Nov-2018
54Flow Energy (2)Flow Variable£1,098£1,213£11510.85%11-Nov-2018
55Octopus Energy (2)Flexible Octopus£955£1,060£10511.00%20-Nov-2018
56Robin Hood EnergyRobin Hood Energy Evergreen£1,039£1,194£15514.90%29-Nov-2018
57Outfox the Market (3)Pow!£922£988£667.16%16-Dec-2018
Average£1027£1101£747.40%