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 supplier Tariff Previous SVT price New SVT price Difference (£) Total Difference (%)
1 Economy Energy Switch Saver £811 £1,122 £311 38.30%
2 Solarplicity Solarplicity’s Standard Variable £887 £1,141 £254 26.90%
3 Flow Energy Flow Variable £1,027 £1,213 £185 17.65%
4 Green Star Energy Rate Watch £1,038 £1,219 £181 16.70%
5 Igloo Energy Igloo Pioneer £845 £1,021 £176 18.70%

Big Six price rises

The Big Six all raised their prices this year.

# Supplier Previous SVT price New SVT price Difference Takes effect
1 E.ON (1) £1,123 £1,153 £30 2.7% 19 April 2018
2 British Gas £1,101 £1,161 £60 5.50% 29 May 2018
3 Scottish Power £1,148 £1,211 £63 5.60% 1 June 2018
4 EDF £1,142 £1,158 £16 1.40% 7 June 2018
5 Npower £1,166 £1,230 £64 5.30% 17 June 2018
6 SSE £1,109 £1,185 £76 6.70% 11 July 2018
7 EON (2) £1,123 £1,178 £55 4.80% 16 August 2018
8 Co-operative £1158 £1218 £61 5.20% 20 August 2018
9 EDF £1,142 £1,212 £70 6% 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

# Supplier SVT Tariff Name Previous SVT price New SVT price Difference (£) Difference (%) Came into effect:
1 Ebico (1) Ebico Zero £1,101 £1,161 £60 5.50% 16-Jan-2018
2 Good Energy Good Energy and Gas+ £1,167 £1248 £81 7% 18-Jan-2018
3 Octopus Energy (1) Flexible Octopus £908 £931 £23 2.50% 15-Feb-2018
4 iSupply (1) iVariable £1,014 £1,090 £76 7.50% 1-Mar-2018
5 Pure Planet (1) 100% Green £860 £908 £48 5.60% 31-Mar-2018
6 ENGIE (1) Safe And Easy £980 £1,038 £58 5.90% 4-Apr-2018
7 Our Power Our Best £848 £939 £91 10.70% 4-Apr-2018
8 Ecotricity Green Electricity + Green Gas £1,201 £1,258 £58 4.80% 14-Apr-2018
9 Igloo Energy (1) Igloo Pioneer £845 £871 £26 3.10% 16-Apr-2018
10 Eon (1) E.ON Energy Plan £1,123 £1,153 £30 2.70% 19-Apr-2018
11 Bulb (1) Vari-Fair £855 £878 £24 2.80% 28-Apr-2018
12 Green Star Energy (1) Rate Watch £1,038 £1,109 £71 6.80% 1-May-2018
13 British Gas (1) British Gas Standard Variable Tariff £1,101 £1,161 £60 5.40% 29-May-2018
14 Scottish Power (1) Standard £1,147 £1,211 £64 5.60% 1-Jun-2018
15 EDF Energy (1) Standard (Variable) £1,142 £1,158 £16 1.40% 7-Jun-2018
16 OVO (1) Simpler Energy £1,097 £1,150 £53 4.80% 8-Jun-2018
17 npower Standard SC £1,166 £1,230 £64 5.50% 17-Jun-2018
18 Utility Warehouse (1) Value £1,125 £1,175 £50 4.40% 1-Jul-2018
19 SSE Standard £1,109 £1,196 £87 7.90% 11-Jul-2018
20 First Utility First Variable £1,132 £1199 £67 5.90% 23-Jul-2018
21 Outfox the Market (1) Zapp! / Whamm! £807 £859 £52 6.40% 2-Aug-2018
22 Bulb (2) Vari-Fair £878 £923 £45 5.10% 12-Aug-2018
23 Eon (2) E.ON Energy Plan £1,153 £1,208 £55 4.80% 16-Aug-2018
24 Co-operative Energy Green Pioneer £1,158 £1,218 £61 5.20% 20-Aug-2018
25 Solarplicity (1) Solarplicity’s Standard Variable £887 £1,003 £116 13.10% 20-Aug-2018
26 Flow Energy (1) Flow Variable £1,027 £1,097 £70 6.80% 20-Aug-2018
27 Tonik Life Energy £979 £1,085 £106 10.80% 23-Aug-2018
28 Green Star Energy (2) Rate Watch £1,109 £1,219 £110 9.90% 28-Aug-2018
29 Fischer Energy (1) One Fair Tariff £962 £991 £29 2.95% 28-Aug-2018
30 EDF Energy (2) Standard (Variable) £1,158 £1,227 £70 6.10% 31-Aug-2018
31 Igloo Energy (2) Igloo Pioneer £871 £930 £59 5.80% 1-Sep-2018
32 Spark (1) Digital Saver v1 £1,058 £1,155 £97 9.20% 1-Sep-2018
33 Avro Energy (1) Simple Energy £922 £993 £71 7.70% 1-Sep-2018
34 People’s Energy The People’s Tariff £864 £946 £82 9.50% 3-Sep-2018
35 Bristol Energy (1) Standard Variable £997 £1,079 £82 8.20% 8-Sep-2018
36 Bristol Energy (2) Standard Variable £1,079 £1,144 £65 6.20% 9-Sep-2018
37 GnERGY GnERGY Standard Variable £1,145 £1,248 £104 9.10% 16-Sep-2018
38 Solarplicity (2) Solarplicity’s Standard Variable £1,003 £1,141 £138 13.80% 25-Sep-2018
39 Spark (2) Digital Saver v1 £1,155 £1,195 £40 3.50% 26-Sep-2018
40 British Gas (2) Standard Variable £1,161 £1,205 £44 3.80% 1-Oct-2018
41 ENGIE (2) Safe And Easy £1,038 £1,117 £79 7.60% 1-Oct-2018
42 iSupply (2) iVariable £1,090 £1,182 £92 8.40% 1-Oct-2018
43 Pure Planet (2) 100% Green £872 £921 £49 5.60% 1-Oct-2018
44 Economy Energy Switch Saver £811 £1,122 £311 38.30% 7-Oct-2018
45 Scottish Power (2) Standard £1,211 £1,257 £46 3.80% 8-Oct-2018
46 OVO (2) Simpler Energy £1,150 £1,225 £75 6.50% 17-Oct-2018
47 Ebico (2) Ebico Standard £1,161 £1,259 £98 8.40% 22-Oct-2018
48 Igloo Energy (3) Igloo Pioneer £930 £1,021 £91 9.80% 25-Oct-2018
49 Avro Energy (2) Simpler Energy £993 £1,057 £64 6.40% 1-Nov-2018
50 Outfox the Market (2) Zapp! (subject to usage type) £859 £922 £63 7.30% 1-Nov-2018
51 Utility Warehouse (2) Value £1,175 £1,210 £35 3.00% 1-Nov-2018
52 Fischer Energy (2) One Fair Tariff £991 £1,064 £83 7.40% 1-Nov-2018
53 Bulb (3) Vari-Fair £923 £1,025 £102 11.00% 9-Nov-2018
54 Flow Energy (2) Flow Variable £1,098 £1,213 £115 10.85% 11-Nov-2018
55 Octopus Energy (2) Flexible Octopus £955 £1,060 £105 11.00% 20-Nov-2018
56 Robin Hood Energy Robin Hood Energy Evergreen £1,039 £1,194 £155 14.90% 29-Nov-2018
57 Outfox the Market (3) Pow! £922 £988 £66 7.16% 16-Dec-2018
Average £1027 £1101 £74 7.40%