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Fairerpower’s price increase affecting new customers.

23 August 2016 | News

Following an upward shift in wholesale commodity costs, Fairerpower today announced a 5% (£32) price increase on its fixed tariff1. The move will affect all new and renewing customers signing up to Fairerpower’s 12 month pay-monthly Fixed tariff and is largely a reflection of an 8% uplift in gas and 8% uplift in electricity costs over the last month.

Following the price increase, Fairerpower’s price for a dual fuel customer will now be £9172.

New customers are still expected to save around £1523 against an average Big Six Standard Variable tariff.

Fairerpower reviews its prices on a regular basis, passing back savings to customers whenever possible and this price change largely reflects movement in the cost of supplying energy to its customers over time. This cost reflective pricing sits at the heart of the company’s promise to customers that the deal they are getting from Fairerpower will always be fair, transparent and as competitive as possible.

The increase takes effect at 00.01 on 23 August 2016.

Notes:

Today’s price increase is on Fairerpower’s Fixed pay-monthly energy plans. Fairerpower’s Standard Variable and PAYG (pre-payment) tariffs will not change at this time.

Price comparisons are made using Fairerpower’s cheapest non-Economy 7 dual-fuel tariff at the relevant time (including all available discounts, paying by direct debit in advance and averaged over all available regions) compared to an average of the Big Six Standard Variable dual-fuel tariffs (excluding online discounts, using a variety of payment methods including direct debit and averaged over all available regions).

The “Big Six” are E.ON, SSE, British Gas, Scottish Power, Npower and EDF.

[1] Compared to our current average medium use non-Economy 7, Fixed tariff.

[2] £917 is the annual cost of Fairerpower’s fixed 12-month energy plan for a dual-fuel medium user (3100 kWh electricity, 12,500 kWh gas) paying via any payment method, including VAT, when averaged over the regions in which that tariff is available. Effective 23/08/2016.

[3] Customers on Big 6 variable tariffs will realise these average savings. £152 is the difference between the Fairerpower 1 year fixed dual fuel tariff (15% green, all payment methods) and average Big 6 (SSE, npower, British Gas, EDF Energy, E.ON, Scottish Power) standard variable tariffs in regions 13, 14 & 16 for medium usage (3,100kWh electricity, 12,500kWh gas per annum) dual fuel customers on standard credit meters. Correct as at 22/08/2016. Sources: Uswitch Insight

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