Virgin Media publicizes new broadband worth rise that is dangerous news in your payments

‌Virgin Media has simply begun emailing prospects to verify how their payments can be affected by upcoming worth hikes. In the previous, Virgin has all the time labored out its yearly price will increase based mostly on quite a few elements resembling market circumstances however that may all change in 2024.

From subsequent 12 months, Virgin says it’ll begin push issues up by the Retail Price Index (RPI) price of inflation plus a further 3.9 %.

RPI at the moment stands at round 6 % which means Virgin customers face invoice will increase of just about 10 % when issues go up subsequent 12 months. That will add £4 monthly to a present £40 plan or £6 in case you are now paying £60.

Of course, if RPI falls or rises it’ll change what’s added to month-to-month payments so we received’t know the total influence of what’s to return till Virgin’s November 2023 deadline. That’s the date when the official hikes can be introduced with it then hitting payments from April 1st 2024.

In the e-mail seen by Express.co.uk, Virgin mentioned: “We usually change our prices each year – writing to let you know how much they’re going up and giving you the chance to cancel. From April 2024, we’re doing things differently, so any price rise to your package will be made at the same time every year. This’ll be linked to the Retail Price Index (RPI) rate of inflation plus an additional 3.9% – which means the amount of any increase will be clearer, sooner.”

Virgin shouldn’t be solely the broadband provider utilizing the RPI technique to set pricing. BT, TalkTalk and Vodafone additionally enhance payments utilizing the speed of inflation to work out how a lot additional prospects can pay.

This method of understanding payments noticed some prospects whacked by huge will increase earlier this 12 months as inflation hit document ranges. In truth, some payments jumped by over 14 %.

Virgin says that anybody sad with something in its newest e mail can cancel their package deal, any time earlier than 31/10/2023 with out paying any early cancellation charges.

That means now could possibly be a superb time to buy round because the decrease your broadband worth is now, the much less it’ll go up when the hikes come into drive.