Energy

Economy Energy is hitting thousands of customers with an astonishing £300+/year rise – but many will be able to escape it by switching away, or in some cases an admin blunder means they'll beat the hike.  The fact the price is rising is not a surprise, as most energy firms are increasing costs. What is shocking is the scale of the rise, which is as big as we can remember in recent years. While on average it will lead to a rise of £311/yr on typical use – 38% – some are set to be hit with an increase of up to £460/yr. The hike hits on Sunday 7 October. As it's a variable tariff you can at least switch penalty-free, but we have learned scores of bill-payers were wrongly told it was actually a fixed deal whereby the price per unit of energy was fixed for a year. This admin blunder was made in a 'welcome' email sent by Economy Energy. After MoneySavingExpert.com got involved, Economy Energy told us by phone it would not levy the hike on anyone who could prove they got this email (see it below, with the important lines highlighted). But since, when we've asked for confirmation in writing all throughout this week, it's gone quiet, which we find outrageous. However, some MoneySavers who got this email have told us they've successfully challenged the rise.

Cheap energy deals are disappearing fast with the lowest fixed deal up by more than £70/year since this time last month, MoneySavingExpert.com can reveal.  

Green energy supplier Bulb is raising its prices for the third time this year, with 750,000 existing customers to be hit by a whopping rise of over 11% in November.

Octopus Energy has bought small gas and electricity provider Affect Energy – if you're a customer, don't worry, you don't have to do anything.

The big six energy suppliers are to hit millions of prepayment customers with a near £50 price rise on average from next month, MoneySavingExpert.com can reveal.

A merger between Npower and SSE has been given a provisional green light, meaning the big six energy firms could be reduced to five.

British Gas has been ordered to pay out £2.65 million in refunds and compensation by energy regulator Ofgem for a string of anti-consumer incidents, following an investigation and subsequent campaign by MoneySavingExpert.com.

Thousands of disengaged energy customers saved an average of about £300/year in regulator Ofgem's first collective switch trial.

Northern Ireland's largest energy supplier Power NI is to hike electricity prices by 13.8%, meaning the typical bill for those on its standard tariff will jump by £69/year.

Green energy supplier Bulb has warned its 450,000 customers that it may be forced to increase prices for the third time this year, as a result of rising wholesale costs.