Virgin Media to change price rise calculations from 2024

[Oggiman]

Virgin Media users will be hit by more price rises next year with the broadband and TV supplier confirming the upcoming changes. It may seem a little early to announce 2024 hikes but the reason Virgin is informing customers now is due to the company changing the way it targets bills.

From next year, the firm will use the Retail Price Index (RPI) rate of inflation to adjust pricing rather than its previous method of using market conditions and other factors. Right now RPI stands at around 9% with Virgin then adding a flat rate of 3.9% on top.

So, if the new pricing was set today, users would see around 13% extra added to their monthly bills.

Of course, RPI can fall as well as rise and Virgin thinks this is the fairest way of setting its increases with each hike being confirmed in January.

"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 said in its email.

If this news has left you feeling annoyed there is a deadline that you need to pop in your diary. Virgin says that anyone angered by the changes can leave their package without paying the usual penalty.

Read HERE

 

[usera34]

Virgin Media users will be hit by more price rises next year with the broadband and TV supplier confirming the upcoming changes. It may seem a little early to announce 2024 hikes but the reason Virgin is informing customers now is due to the company changing the way it targets bills.

From next year, the firm will use the Retail Price Index (RPI) rate of inflation to adjust pricing rather than its previous method of using market conditions and other factors. Right now RPI stands at around 9% with Virgin then adding a flat rate of 3.9% on top.

So, if the new pricing was set today, users would see around 13% extra added to their monthly bills.

Of course, RPI can fall as well as rise and Virgin thinks this is the fairest way of setting its increases with each hike being confirmed in January.

"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 said in its email.

If this news has left you feeling annoyed there is a deadline that you need to pop in your diary. Virgin says that anyone angered by the changes can leave their package without paying the usual penalty.

Read HERE

i have some experience on virgin media products and give 5 stars for that brand

 

[albob]

I don't know if this is new - but had this yesterday with my bill

From 28 January 2024, we are changing our pricing terms to exclude add-ons from the annual Retail Price Index (RPI) rate of inflation + 3.9% price increase, which, unless we informed you otherwise, applies to your main services. The prices of add-ons may still be subject to changes, made either by us, or the provider of the service where you contract directly with them. However, you can cancel add-ons at any time by providing 30 days' notice, and we'll let you know in advance of any changes we make to those charges. To see your updated terms and conditions, just go to virginmedia.com/legal

 

[Sandra51]

I cannot understand how OFCOM, or whichever regulator was in charge, allowed all the ISPs to increase by RPI or CPI, which was possibly justifiable in some way, but why then allow them to increase by an additional 3.9%. As every ISP did it, it showed that the privatisation that was supposed to bring about competition and provide better services at lower costs to the customers, was only there to benefit the companies and their shareholders.

 

[digidude]

Every single bill i pay goes up every year, at least inflation plus 3.9%, guess what DOESNT go up by that amount. My wages

 

[flipflop63]

were getting screwed