The Guardian reported that broadband consumers in the United Kingdom may see an increase of up to 14% in their bills in 2023. With prices soaring in a range of sectors, the Bank of England estimates putting inflation potentially around 15% in early 2023, meaning the mid-contract price rises will be much higher at a time when people are least able to manage them.
A recent study of 2,000 UK adults revealed that more than a quarter (30%) of customers saw an increase of £5 to their monthly broadband or mobile bill as potentially causing them stress and two-fifths believed that mid-contract price rises should be stopped. The same study also showed that 80% of UK citizens want their ISP to offer fixed-price deals for their broadband and mobile, with no mid-contract price rises built in.
Some major telecom providers, such as BT, EE, Plusnet, TalkTalk and Vodafone, increase their prices annually in line with the consumer price index – as published in January, plus an extra 3.9% or 3.7%. Even the customers who are within their minimum contract period are affected, leaving them with no choice but to accept them.
On the other hand, there are a handful of smaller providers that make real efforts to protect their customers against inflation and commit to keeping customers’ prices the same for the entire duration of their contract.
What are your options to avoid the price rise?
If you are currently out of contract, you have more choices than you think. Keep in mind that you don’t have to accept any price rise when you are under contract and you’re free to shop around to find the best deal for you.
You have an opportunity to save money on your broadband bill and get a better service. Always check the T&Cs of any new contract carefully so you’re aware of your new provider’s policy on price rises.
You can always negotiate with your provider to reduce inflationary price increases in the costs of services like internet or mobile phone coverage. It’s true that not everyone has the time, patience or confidence to haggle a less expensive deal, but with more savvy consumers around, companies would not find it as convenient in the long term to introduce mid-term price rise policies in their contracts.
If you’re struggling to pay your bills, reach out to your provider. The major telecoms providers have all agreed to better support their customers during the cost of living crisis.
If you are a business owner…
Then you can expect a turbulent and uncertain year ahead. Small and mid-sized businesses need to focus on mitigating rising business costs and staying connected to their customers. Despite tough economic conditions, business owners need to remain optimistic and get creative. There are great opportunities for innovation and changing the way they do things alongside an ISP that understands your specific needs.
Whether you’re interested in improving efficiency in your day-to-day business activities, nurturing employee relationships, or cutting costs, utilising different technologies can have a significant impact.
At Everyday Communications, we focus on the importance of using technology to deliver advanced solutions to our customers. Our business packages, Everyday Fibre for Business and Everyday Hyperfast with Cloud Telephony, provide greater bandwidth flexibility, lower latency, greater security, and increased profitability.
If you would like to find out more about our services, get in touch with our friendly team.