Interactive Investor

Millions of Virgin Media customers face inflation-busting 4.5% price hike

16th August 2018 16:31

Hannah Nemeth from interactive investor

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Five million Virgin Media customers are facing price hikes as the telecoms giant is raising the prices of its broadband, phone and TV services.

The provider is raising prices by an average of 4.5%, adding up to £48 a year to household bills of those who have bundled broadband, phone and TV packages.

This is well above the current rate of inflation of 2.5%, as measured by the Consumer Prices Index (CPI).

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The telecoms provider has started writing to customers detailing the price changes, but customers who are affected can cancel their package penalty free within 30 days of being notified of the price rise.

The provider last increased prices by 4.7% in November 2017.

Are other broadband providers raising prices?

So far this year, the following major telecoms companies have announced price rises:

BT – customers will be hit with a price rise from 16 September, the second this yearEE ­ upped its broadband prices from 16 JanuaryPost Office broadband and home phone customers were hit with inflation-busting price rises from 1 MaySky put up prices of broadband, home phone and TV costs from 1 April

Dani Warner, broadband expert at uSwitch.com, comments: “Price rises do happen, but Virgin Media customers who face paying up to £48 more each year shouldn’t feel too alarmed because their rights are well established.

“Anyone unhappy with these changes has 30 days from when they’re officially notified of the new prices to use their ‘get out of jail free’ card and leave their contract penalty-free. So customers should keep an eye on any communication from Virgin Media over the next few days.

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“There is good news for those who do want to leave Virgin: the best deals are generally available to new customers.”

Have your say on Virgin Media and other broadband providers by voting in the Moneywise Home Finance Awards 2018.

This article was originally published in our sister magazine Moneywise, which ceased publication in August 2020.

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