Around five million Virgin Media customers will be hit with average price hikes of 4.7%, or up to an extra £48 a year, from 1 November.
Prices for most customers who have bundled broadband, phone and TV packages will rise by between £3.49 a month and £3.99 a month, while those with broadband-only or bundled broadband and phone packages will see prices increase by between £1.99 a month and £2.99 a month. Customers with other bundles and packages will see a price rise of between £1.99 a month and £3.99 a month.
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Virgin Media says it has begun to notify customers of the change by post and email today.
On receiving these letters or emails, affected customers have 30 days to cancel their contract penalty free without incurring any early disconnection fees.
A Virgin Media spokesperson says: “We do everything we can to balance keeping our prices competitive while investing to meet the ever-increasing appetite for broadband and content.
“Online usage increased by more than 35% in the last year and streaming now accounts for nearly 60% of the total traffic on Virgin Media’s network. We’re investing more in our ultrafast network to continue offering the UK’s fastest widely-available speeds.”
Are other broadband providers raising prices?
So far, this year, the following major telecoms companies have announced price rises:
- BT – hiked broadband, home phone, BT Sport and certain call costs from 2 April.
- Plusnet – increased home phone prices from 29 June.
- Sky - upped broadband, TV and call prices from 1 March.
- TalkTalk - will raise broadband, phone, and mobile prices from 1 August.
Have your say on Virgin Media and other broadband providers by voting in the Moneywise Home Finance Awards 2017.