April 2023 is the month that major price hikes hit the telecom and broadband industry. BT, Virgin, o2 and other major providers will increase their prices by as much as 17.3%, citing cost of living as the reason. Here’s what you need to know about telecom price hikes and how the upcoming changes could affect you.
Many telecoms and broadband providers increase their prices annually to account for inflation – you’re probably familiar with these mid-contract changes. However, the upcoming mid-contract rises this April could be much steeper than usual. As inflation has accelerated to the highest levels in 41 years over recent months, providers and consumers alike are feeling the effects. Price rises in the telecoms industry are tied to consumer price index (CPI) inflation, which is why they’re likely to be higher this time around.
Providers are legally able to put prices up by the rate of inflation, plus some additionalpercentage points. If your contract prices are going up, your provider will contact you with all the necessary details so check your account and look out for written communication from them.
Telecom Price Hike FAQs
Can I get out of my contract early if prices are going up?
If you’re in contract, it’s unlikely you can leave without any penalties, usually a one-off termination fee. If you signed up for a deal in the last year, you’re likely to still be in contract. Terms and conditions vary between providers so do check them carefully. In some cases, price rises will not be written into your contract so you may have the option to leave without facing any penalties.
What should I do if my contract becomes unaffordable?
Contact your provider directly to discuss your individual circumstances with them. Cost of living is high and it’s a challenging time for many individuals and businesses, so let your provider know and find out what they can do to support you.
How much will prices rise?
Telecom and broadband prices could rise by as much as 17.3% but this will vary depending on the provider. Check your contract and look for communication to verify any price rises you may face.
Do I have to accept price rises if I’m out of contract?
If you’re out of contract, you can leave at any time penalty free and look for a new deal. However, do be aware that prices are based on inflation and are likely to rise across the board, so finding a new deal that’s more competitive than your current one could be challenging at the moment.
Contacting large telecoms providers can be challenging, especially at difficult times when demand is high. We are a local independent telecoms company, committed to customer service – if you need us or have a question about your bill, we’ll be here. Call 01604 812813 or send us a message.