With record price increases on the horizon, BT has spoken out about the upcoming hike of 9.3 percent set to hit customers across the UK. BT increases costs for customers each year, with monthly bills rising by a set formula tied to inflation. For comparison, customers were faced with a price rise of 4.5 percent. BT will begin contacting customers soon, with the price rise set to kick-in March 31, 2022.
It’s worth pointing out that BT isn’t the only company set to increase its prices. Vodafone, Plusnet, and EE will all increase monthly bills using the same formula as BT, which uses the Consumer Price Index (CPI) as measured by the Office of National Statistics (ONS) in January plus 3.9 percent. That equates to a 9.3 percent increase. Unfortunately, if you’re still within the minimum contract term with your internet supplier, there’s not much you can do. However, research from regulator Ofcom reveals that around 40 percent of all broadband customers are out of contract. If you’re one of them, you should check out our rundown of the best broadband deals to secure better monthly price (or faster speeds for the same price).
Mobile networks and television companies, including Sky and Virgin Media, are also planning to increase prices soon. Virgin Media is a little bit different because the price rise won’t apply to anyone who is still within the minimum contract term. If you’ve been with the company for a few years, you can sign-up to one of the latest deals with Virgin Media and you’ll be able to swerve the annual price rise. Virgin Media says the average customer will see monthly bills by £4.70 a month.
Speaking about the upcoming price rise, BT Managing Director of Consumer Customer Services Nick Lane told broadband-focused blog ISPreview: “Price rises are never popular, but are sometimes a necessary part of business, if we’re to keep up with the rising costs we face and ensure we can continue to deliver a brilliant network experience as customers usage of data grows month on month. We’ve thought long and hard about how we make sure that any pricing changes are predictable, clear, and not unfairly focussed on our existing customers, but reflected in our new prices too.”
“These changes won’t be for all our customers, however. For our financially vulnerable customers on BT Home Essentials, BT Home Phone Saver and BT Basic, we will be leaving their prices as they are,” Lane added “We’ll soon start writing to our customers, letting them know clearly what this year’s changes will mean for them. We’ll also be explaining why this year’s increase is necessary, allowing us to continue to offer our customers the best and most reliable connection on our networks, with the latest technologies and brilliant UK based service – and all in the most sustainable way.”
If you’re out-of-contract with BT, there are some great deals around at the moment. The company is currently running a Homebuyer’s Offer, which slashes your monthly bills in half for the first three months. That means you can secure the fastest speeds currently on-offer from BT – with download speeds up to 900Mbps, that’s around 12x faster than the average broadband speed in the UK – for just £27.49 a month.