What a price rise means for you,
and how we can help you keep a lid on your bills
You may have read that there have been increases to the wholesale cost of energy, and that’s before the price hikes we saw during the Beast from the East. These have led to price rises being passed onto customers by many providers and, unfortunately, we too are now having to do the same.
The last time we made changes to our pricing was in July 2017, when we reduced it by an average of £68 per year for the typical home. However, since June 2017 wholesale market costs have increased by £73 per year. We have tried to protect you as much as possible during the expensive winter period, but the higher costs are now expected to remain long term.
We’re reluctant do it, but prices will be increasing slightly from the 16th April 2018. A typical household will see their prices increase by an average of £27 per year, working out at £2.25 per month.
We won’t be automatically increasing your direct debits, meaning the monthly amount you pay into your account will stay the same. We will continue to keep you updated in case you do need to increase your monthly payments to remain in credit.
This is the first time that we have ever had to pass on price increases to you. At Igloo Energy our sole aim is to help you save money by using less energy and so we are looking at different ways to reduce the impact.
One recommendation we have is installing a Tado smart thermostat. Not only can this reduce heating costs by 31%, but if you purchase a Tado through us you will receive a £25 credit on your energy account – helping to offset the impact of any price rise. To make sure you purchase the right Tado for your home, please visit here and use the email address linked with your Igloo account.
Other ways to reduce your energy consumption, include:
- Turn your thermostat down by 1°C to save up to £60 per year.
- Did you know that 90% of a washing machine’s energy cost comes from heating the water? If you wash your clothes at 30 or 40°C not only are you saving the environment (and potentially your clothes!) you will save some money.
- Use your oven to heat the kitchen. After cooking leave the oven door open to warm up the whole room instead of letting that heat go to waste.
- Those who hate washing up rejoice! Avoid pre-rinsing your dishes in hot water, just scrape before they go in the dishwasher to save on both water and energy.
- Did you know power showers use more energy and water than having a bath? Turn the pressure down slightly to save on both.
We are committed to always delivering the most competitive tariff possible. We have no plans to increase your energy prices again and will be doing our best to lower prices again as soon as wholesale prices decrease. If wholesale prices go down for a sustained period we will revisit our pricing and make sure we pass back any savings back to you.