Virgin Media is raising prices for millions of customers…and BT, EE, and TalkTalk subscribers will be next.
VIRGIN MEDIA isn’t the only business that plans to raise monthly bills to their highest level in years.
Here’s why customers of BT, EE, Plusnet, Vodafone, O2, TalkTalk, and Shell Energy are also facing massive price increases.
For Virgin Media’s millions of fibre broadband subscribers.
The average customer’s bill will increase by £4.70 per month, according to Virgin Media.
That’s an extra £56.40 per year for the same speeds and service.
Of course, because this is the average, some people can expect to pay much more.
Last year, Virgin Media raised its prices by an average of £3.63 per month, or £43.50 per year, for all customers.
However, some exceptional customers on older contracts saw their bills rise by as much as £54 per year in 2021, implying that the average Virgin Media customer in 2022 will be forced to pay more than the small minority who saw the most significant increase last year.
But don’t get too excited if you have a broadband contract with BT, EE, Plusnet, Vodafone, O2, TalkTalk, Shell Energy.
Although Virgin Media is the first major player to announce annual increases, it is far from the only one.
Every broadband contract includes annual price increases, with a few exceptions.
These are used to help the company deal with its own rising costs.
Some companies, such as Virgin Media, will only change monthly bills for customers who are outside of the minimum contract term (which is usually between 18 and 24 months, depending on the deal you signed up for), while others, such as BT and EE, will raise prices for customers who are still within that period.
As a result, while Virgin Media customers facing an increase of £4.70 per month for the same speeds can lock-in a discounted price for the next 18 months, BT and EE customers may be unable to negotiate a new deal or switch providers for another year or so.
And it means that, in the coming weeks, BT, EE, Plusnet, Vodafone, O2, TalkTalk, and Shell Energy will follow Virgin Media’s lead by raising broadband prices to new highs.
Customers’ bills are expected to rise by about 9% in March or April, according to some estimates.
“Brinkwire News in Condensed Form.”