The increases will be driven by higher water and mobile bills which will rise by as much as 6 per cent and 7.9 per cent on average. Council tax will also rise from April as local authorities hike their rates and Brits will have to fork out more for their TV licence from spring.
Wessex Water and Anglian Water confirmed the highest bills for the next year, with customers paying £548 and £529 for an average annual bill, while Northumbria will see the lowest prices of £442 on average.Ofwat chief executive David Black said: “While water bills will vary depending on the circumstances of each household, the average increase forecasted for 2024/25 will be £27.40, equivalent to about £2.30 a month.
TV Licence It was confirmed in December 2023 that the BBC TV licence fee would increase with inflation at 6.7 per cent. This was reduced from an expected 9 per cent which would have averaged at around £15 more per year for customers. According to statistics released by the Department for Levelling Up, Housing and Communities, the bill for an average Band D property will increase to £2,171, with all of the 153 upper-tier councils applying some or all of the social care precept of 2 per cent.Currently upper-tier councils cannot raise council tax above 4.99 per cent including the social care precept without gaining approval from a local referendum.
The mid-contract price rises may not apply to all customers, however, so it's important to check how your firm will apply the increases and by how much. Ofcom is also currently reviewing inflation-linked, mid-contract price rises, however, any verdict from this will be delivered after the price hikes.The average household energy bill will fall to its lowest point in two years from Monday when Ofgem lowers its price cap from £1,928 to £1,690. That's a drop of 12.