[Finance] Price Increases

[dazzer6666]

Wow! Can they do that that quick

I received my email from O2 yesterday - going up by RPI (13.4%) PLUS 3.9%!! So a total of 17.3%!

Fortunately, my 24 month contract is up in May so I'll look to see what's available at that time - ideally still with O2 as they will be just about the only big provider still not charging for EU Roaming.

Yep - all contracts go up in April regardless of when they started

 

[Rdodge30]

I feel for the greenhouse growers in this country who are mothballing their businesses due to the energy costs, it must be extremely worrying times for them and their families as it is for so many others in business.

That aside, a small part of me won’t miss salad in the winter, or strawberries.

Telling my kids that we didn’t have cucumber or spring onions in December when I was a kid, you’d think I was going back to the dinosaurs! They probably don’t even believe me but I can remember the news updates on whether the strawberries would be ripe in time for Wimbledon when I was a kid in the 70’s…. weren’t they all the sweeter because we had waited months and months for them? It helped that they weren’t ‘forced Elsanta’

One of my last attempts to hang onto the old world is to stop them having ice cream in the winter, in the hope that they will appreciate it in the spring.

Local ice cream van coming round the houses at 6pm in the dark in December and Lamptey’s number one fan comes hurtling down the stairs, I shout, “NO! Before you even ask!”

“Dad , he’s just trying to earn a living and you’re against him!!!” Stomp stomp stomp

 

[AlbionBro]

Wrong thread...!

 

[South Stand Bonfire]

Wow! Can they do that that quick

I received my email from O2 yesterday - going up by RPI (13.4%) PLUS 3.9%!! So a total of 17.3%!

Fortunately, my 24 month contract is up in May so I'll look to see what's available at that time - ideally still with O2 as they will be just about the only big provider still not charging for EU Roaming.

I moved my sim only contracts for the family from Three mobile last year when they doubled my previous out of contract rates and excluded EU roaming. I then got a rolling monthly sim only deal with Smarty . Really good rates and includes EU roaming. And they happen to use Three Mobile as their supplier.....!

 

[Mustafa II]

Virgin emailed me today to say that my Broadband is going up by nearly 30%. Not acceptable at all surely.

Did the whole cancellation thing and actually went through with it this time. Will see what happens, expecting a call from their renentions teams within a couple of weeks...

... but fully prepared to move on to their competitors this time.

I go through the "I'm going to leave' every time I get to within a month of my contract ending. I always have a good read of this thread first to try and get an idea of what people are getting and therefore what I want to achieve.

Virgin Media Retentions Discussion- Part 3

Excellent, I have those as well but haven’t used a landline phone in well over a decade! I dont understand why VM don't give us the option not to have the landline and knock a bit off the monthly payment. The only time we use it is to call VM.

www.avforums.com

I did this again end of last year. Initially got through to an overseas person who was absolutely hopeless and we ended up going around in circles for ages ever a package costing £120 - which I said I wasn't prepared to pay (I've got phone, broadband, movies, Sky Sports and BT Sport). Told her I wanted to leave and would she put me straight through to retentions. Got the UK call centre and within 5 minutes or so got the same as I'd been on PLUS upgrade to 1 Gig broadband (new router with me in a few days) and also Netflix thrown in - for £80!

I'm not sure what sort of deals are available if you are broadband only ... but hopefully you can sort a much better deal when speaking with retentions.

So... the retentions team called back today (the following day to my cancellation).

Originally my Broadband was going up to £34 from £27 per month.

I called up and spoke to someone in India who offered me some very naff 'deals' which did not work out much cheaper than that of the price increase... so I cancelled.

But today I had a call back from the rententions team, a friendly girl from Wales.

Without hesitation, she offered me an 18 month deal of £24pm for the same package. So, not only am I not paying an extra £7pm, I'm actually making a saving of £3pm.... £10pm cheaper than the deal I would have got had I not 'cancelled'.

Goes to show how important it is to play this silly game and save yourself significant amounts of money on your monthly outgoings....

 

[Deleted member 37369]

So... the retentions team called back today (the following day to my cancellation).

Originally my Broadband was going up to £34 from £27 per month.

I called up and spoke to someone in India who offered me some very naff 'deals' which did not work out much cheaper than that of the price increase... so I cancelled.

But today I had a call back from the rententions team, a friendly girl from Wales.

Without hesitation, she offered me an 18 month deal of £24pm for the same package. So, not only am I not paying an extra £7pm, I'm actually making a saving of £3pm.... £10pm cheaper than the deal I would have got had I not 'cancelled'.

Goes to show how important it is to play this silly game and save yourself significant amounts of money on your monthly outgoings....

Shame you have to go through this charade each time ... but a good result in the end

 

[Thunder Bolt]

Wow! Can they do that that quick

I received my email from O2 yesterday - going up by RPI (13.4%) PLUS 3.9%!! So a total of 17.3%!

Fortunately, my 24 month contract is up in May so I'll look to see what's available at that time - ideally still with O2 as they will be just about the only big provider still not charging for EU Roaming.

Virgin mobile have emailed me today with the same price rise, but they also don't charge for roaming. I'm on a 30 day rolling contract so I shall have a look around. I've only been paying £7 a month for 2Gb and unlimited calls so may decide to stay.

 

[Paulie Gualtieri]

So... the retentions team called back today (the following day to my cancellation).

Originally my Broadband was going up to £34 from £27 per month.

I called up and spoke to someone in India who offered me some very naff 'deals' which did not work out much cheaper than that of the price increase... so I cancelled.

But today I had a call back from the rententions team, a friendly girl from Wales.

Without hesitation, she offered me an 18 month deal of £24pm for the same package. So, not only am I not paying an extra £7pm, I'm actually making a saving of £3pm.... £10pm cheaper than the deal I would have got had I not 'cancelled'.

Goes to show how important it is to play this silly game and save yourself significant amounts of money on your monthly outgoings....

 

[Hugo Rune]

So... the retentions team called back today (the following day to my cancellation).

Originally my Broadband was going up to £34 from £27 per month.

I called up and spoke to someone in India who offered me some very naff 'deals' which did not work out much cheaper than that of the price increase... so I cancelled.

But today I had a call back from the rententions team, a friendly girl from Wales.

Without hesitation, she offered me an 18 month deal of £24pm for the same package. So, not only am I not paying an extra £7pm, I'm actually making a saving of £3pm.... £10pm cheaper than the deal I would have got had I not 'cancelled'.

Goes to show how important it is to play this silly game and save yourself significant amounts of money on your monthly outgoings....

Thank you so much for posting this. I had the same email from Virgin too. I will play the game you played and hopefully save the £84 extra per year they want from me. Cheers.

 

[drew]

BT with their annual RPI +3.9% - That these contractual stipulations are allowed is an absolute disgrace.

Of course, it's the nurses, the train drives and the Amazon warehouse workers that are driving up inflation with their ridiculous wage claims.....

I've recently had emails from Virgin and Tesco mobile and they are changing their terms to have automatic price increase. Virgin I think are doing RPI plus 3.9% per year and Tesco CPI plus 3.9% per year. What exactly am I getting for that extra 3.9%? I'm guessing f*** all. Just goes straight on to their bottom line.

 

[Shropshire Seagull]

I've recently had emails from Virgin and Tesco mobile and they are changing their terms to have automatic price increase. Virgin I think are doing RPI plus 3.9% per year and Tesco CPI plus 3.9% per year. What exactly am I getting for that extra 3.9%? I'm guessing f*** all. Just goes straight on to their bottom line.

When a service provider ups their price it will mostly be to fund the increase in their payroll costs.
AKA wage inflation ...

 

[beorhthelm]

When a service provider ups their price it will mostly be to fund the increase in their payroll costs.
AKA wage inflation ...

its more that they got a price rise written into regulation, ostensibly to restrict rises, in effect protects revenues. i dont see BT offering inflation linked pay rises.

 

[Official Old Man]

I've recently had emails from Virgin and Tesco mobile and they are changing their terms to have automatic price increase. Virgin I think are doing RPI plus 3.9% per year and Tesco CPI plus 3.9% per year. What exactly am I getting for that extra 3.9%? I'm guessing f*** all. Just goes straight on to their bottom line.

I thought Tesco said their prices would never go up during the length of a contract.
Plenty of offers around anyway for calls, text and lots of data for around £15.
As a guide, check how much data you use every month, bet it's less than you think.

 

[drew]

When a service provider ups their price it will mostly be to fund the increase in their payroll costs.
AKA wage inflation ...

Surely the rate of wage inflation is taking that into account by the CPI or RPI rate. As Beorhthelm, the money isn't going in wages so unless they are investing heavily in new technology, it's just going on their bottom line. Also, isn't putting their prices up by more than the rate of inflation merely going to increase the rate of inflation?

 

[spongy]

Got a new phone and new contract 2 weeks ago, just had a text saying airtime contract is going up 13.4% from April

Me too. I swear reading in the news that inflation was at 10%. So they're upping it by 13.4 + 3.9% = 17.6%.

 

[BBassic]

Virgin tried to put the price for our broadband, phone and TV package up to £70ish.

Took about ten minutes and I've now gotten rid of the phone and the TV (because we use neither), upgraded the broadband to the next fastest option and brought the price down to £38.

Hate that it even necessitates a phone call but there you go.

 

[Weststander]

Profiteering by the mobile network operators.

Payroll costs take just 10% of their income.

 

[sydney]

Vinyl from Resident has gone up around 30% due to import duty and 6 euro admin fee.

that is 30% of pretty unjustifiable extras ....i guess it's a case of if you want it you're going to have to pay for it.

it is interesting to note that in these testing times the supermarket chains , oils and gas companies and the banks are still raking in very vice profits , they are here anyway.

many see these price hikes as unjustified , even before covid /Ukraine and obviously in your case Brexit took hold of the economy ( supposedly ) packaged sizes of products on shelves such as meat , bread , crisps/buiscits , cheeses and chocolate to name a few were decreasing with prices staying the same or going up , its worth noticing that the elaborate packaging on a lot of products has remained the same , you would think in "these troubling times" that elaborate packaging would be the first thing to be dispensed with ......no , because suppliers have contracts with the mega companies like VISY to take their product , cardboard/wrapping etc.

i believe these price rises are largely manufactured and purely profit driven.

 

[sydney]

Virgin tried to put the price for our broadband, phone and TV package up to £70ish.

Took about ten minutes and I've now gotten rid of the phone and the TV (because we use neither), upgraded the broadband to the next fastest option and brought the price down to £38.

Hate that it even necessitates a phone call but there you go.

Foxtel/Sky frequently try this one on , i just log in to "my fox" and press terminate service and within the hour some Saffer or Phillipino person is on the blower offering me discounted service for the next 6 months.....outstanding service..

 

[sydney]

It's the combined [global] rises in fuel and energy that are at the root of the cost of almost everything, especially now.

The annoyance is that gas and oil are no more scarce today than they were 5-10 years ago [commodity scarcity with demand will always cost a premium].
Further, the cost of gas and oil production has not [to my knowledge] changed recently to cause price increase.

I think it comes down to one thing - Russian sanctions.
Before the war, Russia was a huge player in gas and oil production which helped keep market price competitive. Take the Russian contribution away and it leaves the other producers of gas and oil in a slimmer cartel.

You only need to see which global companies are making massive [Sheffield Wednesday proportions] of profit in the last year to see where all the inflated product costs of items we buy are ballooning the coffers of their shareholders - here's the top 10 biggest players in order of annual revenue
Saudi Arabian Oil Co. (Saudi Aramco) Rev: $590.3 billion 1-Year Trailing Total Return: -3.7%
China Petroleum & Chemical Corp. (SNPMF) Rev: $486.8 billion 1-Year Trailing Total Return: 18.6%
PetroChina Co. Ltd. (PCCYF) Rev: $486.4 billion 1-Year Trailing Total Return: 12.5%
Exxon Mobil Corp. (XOM) Rev: $386.8 billion 1-Year Trailing Total Return: 85.6%
Shell PLC (SHEL) Rev: $365.3 billion 1-Year Trailing Total Return: 37.47%
TotalEnergies SE (TTE) Rev: $254.7 billion 1-Year Trailing Total Return: 34.3%
Chevron Corp. (CVX) Rev: $227.1 billion 1-Year Trailing Total Return: 56.8%
BP PLC (BP) Rev: $222.7 billion 1-Year Trailing Total Return: 38.4%
Marathon Petroleum Corp. (MPC) Rev: $173 billion 1-Year Trailing Total Return: 85.3%
Valero Energy Corp. (VLO) Rev: $170.5 billion 1-Year Trailing Total Return: 78.3

It feels like these organisations are holding the world to ransom, they have something we all need, and we'll pay whatever they ask.

you're catching on mate ....