Virgin Media will increase prices for broadband and TV customers by 8.8% in April. The fibre broadband provider, which is connected to some 16 million homes nationwide, has based the figure on the Retail Price Index measure of inflation published last week (4.9%) plus an extra 3.9%.
According to Virgin Media, the average price rise will be £4.16 per month. That equates to an extra £49.92 every year.
If you signed up for Virgin Media from February 8 onwards, you will not see a price rise until 2025.
And don't forget ― if you've been with Virgin Media for a little while, it's possible that you're outside of the initial contract term and can renegotiate a new deal, unlocking the prices closer to those reserved for new customers.
Virgin Media is an outlier in the telecom industry by relying on the RPI rate of inflation published in mid-February. Most of its competitors, including BT, EE, Shell Energy, and Plusnet all use the CPI (Consumer Price Index) figures published in January as the foundation of their annual price rises.
That will result in a 7.9% increase for broadband and paid-TV customers signed up with those suppliers from either March or April, depending on your supplier.
Meanwhile, Sky set its increase at 6.7% earlier this month. On top of that, Sky has offered all customers unhappy about the changes a 30-day window to walk away from their current contract without paying an early termination fee.
This is something Virgin Media has offered to its broadband and TV customers in previous years. Like Sky, it offered a 30-day period where customers could leave without a penalty. On an FAQ for its 2023 price rises,Virgin Media stated: “We hope you'll carry on enjoying your services with us. But if you decide not to, you can change or cancel your package.”
The same message does not appear on the 2024 version of the same FAQ webpage.
Virgin Media's Hub 5 Wi-Fi router is sent-out to anyone on the fastest fibre speeds, including its Gig1 plan that tops-out at 1,000Mbps
VIRGIN MEDIA PRESS OFFICEThe change comes as a result of several contractual tweaks made by the company last year, including lifting a cap on penalties for those trying to leave within the minimum contract term, which is usually 18 months for new or renewing customers.
If your current contract started before April 4, 2023, Virgin Media’s Early Disconnection Fee ― the name for the penalty imposed if you want to leave before your contract has elapsed ― is set at £288. But that upper limit has since been removed for all new customers, meaning the fee could potentially be unlimited.
Regulator Ofcom launched an investigation into Virgin Media’s practices last year after it received a swathe of complaints from frustrated customers who were struggling to leave the company.
If you’ve already completed the minimum contract term, you can leave without penalty.
Vulnerable customers on Virgin Media’s Talk Protected, Essential Broadband and Essential Broadband Plus packages will not see their prices change in 2024. These plans also allow customers to leave at short notice without incurring a fee.
Speaking about the price rises, a spokesperson for Virgin Media O2 said: “2023 was a record year for traffic on our networks as customers used our mobile and broadband services more than ever. We are investing heavily to ensure we continue to provide the fast and reliable connectivity our customers rely on, and the amount we receive from price increases is greatly outweighed by the £5m we invest every single day to upgrade our networks and services to give customers a better overall experience.
“It’s clear that we continue to offer excellent value, with customers paying less and receiving more. Recent independent analysis found that the cost of telecoms services has fallen by a fifth since 2017, while at the same time speeds and usage have increased significantly.
“We will be writing to all impacted customers directly to explain when, why and how any price changes may come into effect.”
