Energy consumers warned to switch before five fixed price deals come to an end on August 31st

6th August 2014

On Sunday 31 August five fixed energy deals will expire, at which point consumers who have not shopped around and switched to a better deal will be automatically rolled onto their energy suppliers’ expensive standard tariffs comparison site GoCompare has warned. This means that they could face an annual bill increase of 10%, or £87, on average.*

The firm says that Npower customers in Yorkshire, who are currently on the energy giant’s Online Price Fix August 2014 dual fuel tariff, will see the biggest average bill increase of all, at £201.79 – a 20.28% hike.  Another of the ‘big six’ – ScottishPower – is also bringing a fixed tariff to an end in August, and the supplier’s customers in the Midlands can expect to be hardest hit, with an average price increase of £163.96.

Impact of tariffs coming to an end on Sunday 31 August 2014 (based on a medium user – 3,200 kWh of electricity and 13,500 kWh of gas per year – paying by monthly direct debit and averaged across all UK regions)

Supplier

Tariff coming to an end

Dual fuel?

Annual

cost

Annual cost of standard tariff

Difference

(£ and %)

Npower Energy Online August 2014

Yes

£1,183.48

£1,204.91

+£21.43

(+1.81%)

Npower Online Price Fix August 2014

Yes

£1,054.81

£1,204.91

+£150.10

(+14.23%)

ScottishPower Online Fixed Price Energy September 2014

Yes

£1,070.60

£1,199.12

+£128.52

(+12%)

Utility Warehouse Fixed Price

Yes

£1,110.95

£1,180.03

+£69.08

(+6.22%)

iSupplyEnergy iFix (pre 7 August 2013)

No (elec only)

£444.34

£510.04

+£65.70

(+14.79%)

Caroline Lloyd, energy spokesperson at Gocompare.com, says: “If you’re on one of the fixed energy tariffs due to expire at the end of this month you should act now to ensure you don’t needlessly end up paying more for your gas and electricity. You’ve probably already received a notification from your energy supplier telling you that your current tariff is coming to an end, and as soon as you get this you can switch without the risk of being charged an early exit fee.

“While searching for energy tariffs is quick and easy, thanks to reputable comparison websites, it can take around four to six weeks to actually switch suppliers, so the sooner you shop around to look for a better energy deal the better.

“There are plenty of good fixed deals available at the moment, mainly from smaller providers but there are a few competitive tariffs being offered by some of the big six too. So all you need is a few minutes of your time to spend on a comparison website – and having your recent energy bill to hand will help – and you can find and choose the best energy tariff for you.”

The firm has also listed the top ten cheapest tariffs.

Top ten cheapest tariffs

Supplier Tariff Annual cost Early exit fees?
Cooperative Energy Fair & Square September 2015

£989

£25 per fuel  if you switch away before end of fix
First Utility iSave Fixed v27 September 2015

£992

£30 per fuel  if you switch away before end of fix
Extra Energy Fixed Price September 2015 v13

£994

£25 per fuel  if you switch away before end of fix
Green Star Energy No Worries 12 Months Fixed version 1406 paperless

£1,009

£30 per fuel if you switch away before end of fix
Ovo Energy Cheaper Energy Fixed

£1,011

£30 per fuel if switching before fix end
EDF Energy Blue+ Price Promise February 2016

£1,049

None
ScottishPower Online Fixed Price Energy September 2015

£1,063

None
Green Star Energy No Worries 24 Months Fixed version 1405 paperless

£1,065

£30 per fuel if you switch away before end of fix
Npower Online Price Fix October 2015

£1,067

None
Ovo Energy Greener Energy Fixed (Online)

£1,069

£30 per fuel if switching before fix end

 

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