'Tighten rules on mid-contract price hikes', Martin Lewis urges Chancellor in new open letter

MSE_Ruby

MoneySavingExpert.com founder Martin Lewis has urged the Chancellor Rachel Reeves to tighten the existing rules over unannounced mid-contract broadband, mobile and pay-TV price hikes in a new open letter. Martin's call for urgent action comes after O2 announced that up to 15.6 million people with mobile and Sim-only contracts will see bills rise by 40% more than they were initially told.

Read the full story:

'Tighten rules on mid-contract price hikes', Martin Lewis urges Chancellor in new open letter

If you haven't already, join the forum to reply.

ronrapp

Think mid contract price rises should be banned if that means 12 month contracts so be it. Some of these pounds and pence rises represent double digit inflation and do not in any way reflect the suppliers costs. I want to go back to a time when contracts were contracts and everyone knew what they were taking on. I've managed to find a broadband provider called Opus who does not have mid contract price rises. Recommend people avoid companies who don't so they get the message loud and clear.

OrangeBlueGreen

It's a surprise to no one that organisations were going to use the new rules to increase prices massively and maximise profits. Whereas the previous rule meant smaller percentages, £1.50 on a £10 contract means 15% increase which is just treating customers as cash cows and surely fuelling inflation and a higher cost of living.

I think I remember reading that Martin used to be against banning price rises altogether because it would mean higher prices from the start to make up for it, which I understand but businesses cannot be trusted with these new rules anymore than they could with the old rules, and this o2 greed saga proves it once again.

Unfortunately, whatever happens, customers lose one way or another.

I do think that from a point of view of fairness, if a customer is locked in for 12/24 months then the price should be locked too. Enough of these silly contracts where only the providers win.