Toto Energy has written to some of its customers warning they face a steep hike in bills over the next few weeks – with price rises in some areas likely to be up to 25%. Details on exactly which tariffs are affected are still sketchy, but here’s what we know so far and what to do.
The small supplier has posted a short statement on its website warning “the price you pay for our variable tariff is increasing”. It says it’s hiking prices from 22 December – though some customers have been told the increase will happen on 2 January instead.
Letters sent to customers seen by MoneySavingExpert.com suggest in some areas bills could rise by as much as 25%, though Toto Energy has yet to provide full details of the changes.
Despite trying to contact Toto Energy since Tuesday morning, we still haven’t been given full information on exactly what’s changing. But here’s what we know so far about which tariffs are affected:
Again, we don’t know the full scale of the price changes – we’re chasing Toto Energy and will update this story when we hear back.
However, we have seen letters from two of our Cheap Energy Club users showing both the old and new rates for Toto’s Variable Saver tariff – and these suggest the average increase for a typical dual fuel user in some areas could be as much as 25%.
The letters to customers we’ve seen say Toto Energy will waive exit fees if you switch before the price rise hits you.
The letters we’ve seen apply to those on the Variable Saver tariff, which has fees of 10/year if you leave before your 12-month term is up. It’s not clear if this applies across the board though or to those on other tariffs, so you need to check.
As Toto Energy is yet to share the new rates with us, we haven’t been able to add them to our Cheap Energy Club. So here’s what to do to check if you can switch and save:
We’ve yet to hear directly from Toto Energy, but a statement on its website says: “Its a step we have taken reluctantly and want to assure all our customers that we are working hard to be as efficient as possible, deliver great service, and help you keep your energy costs down.
“As a small supplier, we do everything we can to minimise cost and pass the savings on to customers. But wholesale energy costs have increased this winter, and unfortunately we have to keep up. You matter to us – we don’t take changing your prices lightly.”