This year has proved the worst ever for the number of price rises energy suppliers have inflicted on consumers. Energy firms announced a total of 57 price increases in 2018 compared with 15 last year, according to new analysis. Some of the challenger firms upped tariffs as many as three times across the year and several of the big six that dominate the market raised them twice. Altogether, an average of £74 was added to annual dual fuel bills. The worst offender was Economy Energy, which hit its 250,000 customers with a 38% price rise in October, equivalent to a £311 increase. The firm recently reassured households it was trading normally after it missed a deadline for paying renewable energy subsidies, which is usually a sign a firm is struggling. Eight suppliers have collapsed this year. The next four worst offenders for price rises were all small suppliers. Scottish Power was the worst of the big six, with a total increase of 9.4%, or £109 extra a year, closely followed by the market leader, British Gas.
Guardian 28th Dec 2018 read more »