Money-saving expert Martin Lewis has cautioned existing broadband customers about potential price hikes despite new regulations protecting new customers from inflation-linked increases. Lewis explained that while new customers will be shielded from above-inflation rises, existing customers remain vulnerable to mid-contract price increases. He highlights the disproportionate impact on those with cheaper broadband deals, where a small price hike represents a significant percentage increase.
Money-saving expert Martin Lewis has sounded the alarm for millions of "existing" broadband customers over mid-contract price hikes . From January 17, 2025, new UK customers for mobile, broadband, and pay TV services will be shielded from inflation-linked price increases during their contracts, with providers required to clearly state any price rises in pounds and pence at the outset, reports Birmingham Live.
His comments came in response to a query on social media: "Morning Martin. Please can you ask the internet watch dog/ regulator why ISP's are allowed to increase charges by £3 per year." The question highlighted a concern about disproportionate price hikes: "This equates on average to an increase of approximately 10%. If inflation is only 4% why is this fair."
He continued to outline the implications of the new rules: "Now its new structure's in place, as predicted, we're seeing way above inflation pounds and pence rises as the norm. Worse, for those on cheaper, say £25/mth, broadband deals, a £3.50/mth-type annual rise is equivalent to 14%, far bigger than this year's inflation-linked rises would've been at about 6%.
Finance Broadband Price Hikes Martin Lewis Ofcom Existing Customers
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