We’re changing our Plusnet Mobile prices and terms
On the 31st March 2023, we'll be making some changes to our mobile prices for all Plusnet Mobile customers with a 12 month or 30 day SIM-Only plan. Here's everything you need to know.
Each year, we adjust the prices of our products and services in-line with the Consumer Price Index (CPI) rate of inflation, plus 3.9%.
When we work out our prices, we use the December CPI rate published in January. For December 2022, the CPI rate was 10.5%. This means that the majority of our customers will see a price increase of 14.4% (which is 10.5% plus 3.9%), or just over £1 per week on average.
These price changes take effect on or after the 31 March 2023.
CPI is the most used and reliable measure to track inflation, it compares the cost of a selection of goods (food, clothes, travel etc.) from one year to the next. A new rate is published monthly by the Office for National Statistics, and we always use the December rate, published in January, for our price change.
There’s lots more info on CPI on the Office for National Statistics website, just visit www.ons.gov.uk
Like business across the country, our costs are increasing. In fact, many of our costs are going up by a lot more than the rate of inflation. For example, our energy bill has increased by 80% over the past year, and the cost of our Home Hubs has risen by more than 20% since 2021. This is part of the reason we add 3.9% onto the rate of inflation when we update our prices every year, to ensure we can cover these increases.
We are also investing more than ever to provide customers with the best experience and service possible. That means continually improving our networks, products, and customer service to give even better value.
We know our customers are more reliant on our services to keep them connected than ever before. In the UK we are some of the biggest data users in Europe – and usage has been increasing by as much as 50% each year recently. It is essential to always be connected, whether you’re working from home, gaming with friends, bingeing the latest boxsets or simply keeping in touch with loves ones.
Yet, on average, the price customers pay for their mobile and broadband connections makes up just 3.8% of their household spend. This means these latest price changes will cost an average of just over £1 extra a week for most people with a broadband or mobile plan.
We’ve got the best networks in the UK and we’re investing to keep up with the demand for data, which has trebled in the last five years. And we’re expanding the reach of our next generation networks to bring the fastest speeds to more of the UK.
We'll take the CPI percentage rate published by the Office for National Statistics in January of this year which is 10.5% and add an extra 3.9%. So the total rate we’ll apply is 14.4%.
Here's an example to show how this works. Let’s say:
You had a mobile plan that's £10.00 a month.
The CPI rate in January 2023 is 10.5%
Your monthly price up to 31st March 2023 = £10
£10 plus 14.4% (the 10.5% CPI rate published in Jan 2023 plus 3.9%) = £11.44 a month
This means you’d pay £11.44 each month going forward, less any discounts you might have which will continue as normal.
If you'd like to make any changes to your plan, you can log in to My Account and hit the Upgrade Button to see what exclusive offers are available.
If we're only putting up prices in line with the CPI plus 3.9% and you choose to cancel because of that, you'll still need to pay any early termination charges if you're still within your minimum term. This is because annual CPI price rises will be included in your Mobile Terms.
If we put up our prices for any other reason though, you might be able to end your contract early without paying any charges.
New contracts from 23rd February 2023 onwards will be subject to annual CPI plus 3.9% price increases. However, the first increase of the monthly plan price will take place on or after 31st March 2024. All other charges will increase on or after 31st March 2023 and then annually.
