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Virgin Media price rises break the law
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Old 12-12-2023, 12:24   #61
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Re: Virgin Media price rises break the law

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Originally Posted by Gavin-D View Post
Ofcom has announced that Phone, TV and broadband customers must be told about mid-contract price rises at the point of sale and "in pounds and pence" and not based on inflation.
It's at consultation stage, and I'm sure the telcos will robustly defend maintaining the status quo.
Personally, I'd welcome this change (second to no mid-term rises allowed at all).
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Old 12-12-2023, 12:35   #62
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Re: Virgin Media price rises break the law

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Originally Posted by Inactive Digital View Post
It's at consultation stage, and I'm sure the telcos will robustly defend maintaining the status quo.
Personally, I'd welcome this change (second to no mid-term rises allowed at all).
They’ll squeal alright - quoting in percentages has allowed them to get away with inflation PLUS another 3 or 4% every year without anyone seriously questioning it (3 or 4% sounds like a very tiny amount, certainly less than the £1 or £2 a month it might actually be). It also puts all the future financial risk on the customer. An equitable fixed term contract ought to share the risk (the customer is tied in but the supplier is committed to the price). So they won’t want to see the end of that.

However, Ofcom’s statement this morning is unequivocal. If they had meant to leave room to back down they would have done so.
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Old 12-12-2023, 13:17   #63
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Re: Virgin Media price rises break the law

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Originally Posted by Chris View Post
They’ll squeal alright - quoting in percentages has allowed them to get away with inflation PLUS another 3 or 4% every year without anyone seriously questioning it (3 or 4% sounds like a very tiny amount, certainly less than the £1 or £2 a month it might actually be). It also puts all the future financial risk on the customer. An equitable fixed term contract ought to share the risk (the customer is tied in but the supplier is committed to the price). So they won’t want to see the end of that.

However, Ofcom’s statement this morning is unequivocal. If they had meant to leave room to back down they would have done so.
I couldn't agree more. It isn't a fair term that, as customers bound in contracts, we do not know in pounds and pence how much we will be paying for our services in just four months' time.

So, assuming this goes through, how will the telcos try to counter it? A flat 10%, 15%, 20% extra each year..? It seems to me likely they will all congregate around a similar figure, the same way they did (by and large) around the inflation +3.9% figure.
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Old 12-12-2023, 13:30   #64
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Re: Virgin Media price rises break the law

My guess is that they will make a long term assumption that a 5% increase will, most years, yield them an above-inflation uplift. That amounts to 50p per £10 monthly payment, so after year one on a £30/month contract they would have to say the price was going up by £1.50, so £31.50 in year 2. After that if they stick with the percentage they would be lifting it by £1.60 (rounded up) to £33.10. For ease of marketing they might just say £1.50 a year.
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Old 12-12-2023, 14:04   #65
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Re: Virgin Media price rises break the law

Telcos are feeling the squeeze. The COVID years were salad days.

A lot of people has more disposal income and people working from home needed fatter, faster and better broadband.

But COVID ending and inflation arrived.

In a 180, speed of light turn. Suddenly people are saving money, cancelling subscriptions, choosing lower tariffs, Keeping older phones etc. Switching to Altnets.

VMO2 have taken a massive hit to their Cashflow, as I'm sure every other telco has.
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Old 12-12-2023, 14:25   #66
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Re: Virgin Media price rises break the law

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Originally Posted by Pierre View Post
Telcos are feeling the squeeze. The COVID years were salad days.

A lot of people has more disposal income and people working from home needed fatter, faster and better broadband.

But COVID ending and inflation arrived.

In a 180, speed of light turn. Suddenly people are saving money, cancelling subscriptions, choosing lower tariffs, Keeping older phones etc. Switching to Altnets.

VMO2 have taken a massive hit to their Cashflow, as I'm sure every other telco has.
Yup…

Just had an email from VM offering an upgrade from 250Mb to 350Mb for £3 per month extra.

(not taking it - 250Mb is enough for for the two of us (and it’s only that because of Volt/O2 have upped it from 125Mb))
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Old 12-12-2023, 16:12   #67
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Re: Virgin Media price rises break the law

Could we see the return of 12 month contracts?

This is your price per month for a year, renegotiate thereafter but likely you'll pay more instead of getting it cheaper like some do when renewing.

Yes, people will hop providers every year if they really want to save a few quid but some will not want the hassle for the sake of £1 or £2 a month
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