Energy customers warned that six fixed rate tariffs due to end on September 30th

26th August 2014

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Comparison website GoCompare has warned that eight fixed energy deals come to an end in just over a month’s time on September 30. Customers who don’t switch in time will face an average annual bill increase of 11% – or £108 says the website.

The suppliers with tariffs expiring at the end of September are EDF Energy, First Utility, Scottish Power, M&S Energy, and iSupplyEnergy. First Utility customers in north-west England, who are currently on the iSave Fixed v7 September 2014 dual fuel tariff, will see the biggest average bill increase of all, at £237.65, or 21.9%.

The biggest increase for a ‘big six’ customer will be felt by those living in south-east England who are on Scottish Power’s Online Energy Saver 23 tariff, with an average price hike of £164.93.

Yet, Gocompare says that some households in northern Scotland, who are customers of First Utility, could actually be in for a price reduction when their fixed deal ends.

Those on the iSave Fixed v7 September 2014 dual fuel tariff could see a £6.57 reduction in their annual bills when they roll onto their provider’s standard tariff (called iSave Everyday).

Those in the same area currently on First Utility’s iSave Fixed v8 September 2014 tariff could save an average of £32.17 a year on their dual fuel bills. However, the website says this doesn’t mean that it’s a good idea for these customers to simply accept First Utility’s standard tariff, as they may be able to save even more by shopping around and switching.

Impact of tariffs coming to an end on Tuesday 30 September 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 %)

EDF Energy Blue+ Price Promise September 2014 Yes £1,095.10 £1,163.60 +£68.50

(+6.26%)

First Utility iSave Fixed v7 September 2014 Yes £1,067.36 £1,159.46 +£92.10

(+8.63%)

First Utility iSave Fixed v8 September 2014 Yes £1,092.90 £1,159.46 +£66.56

(+6.09%)

Scottish Power Online Fixed Price Energy October 2014 Yes £1,077.07 £1,199.12 +£122.05

(+11.33%)

Scottish Power Online Energy Saver 23 Yes £1,047.64 £1,199.12 +£151.48

(+14.46%)

Scottish Power Help Beat Cancer Discounted Energy October 2014 Yes £1,093.82 £1,199.12 +£105.30

(+9.63%)

M&S Energy Fix & Save Sep 2014 Paperless Billing Yes £981.27 £1,186.27 +£205

(+20.89%)

iSupplyEnergy iFix (pre 10 Sep 2013) No (elec only) £445.64 £510.04 +£64.40

(+14.45%)

Jeremy Cryer, energy spokesperson at Gocompare.com, says: “With four fixed tariffs from ‘big six’ providers among the eight due to end this month, many households could find that their annual energy bills are set to increase if they don’t take action and look for a better deal.

“Ofgem, the energy regulator, has introduced steps to make it easier for people to switch providers, including a rule that, once you receive notification from your supplier of your fixed tariff coming to an end – usually 42 to 49 days before it’s due to expire – you can switch without any exit fees being applied. And that’s exactly when you should start shopping around, as it can take as much as four to six weeks to transfer to your new supplier.

“Not taking action and just rolling onto your supplier’s standard tariff is the very worst option, and even if you think that you will be saving money by doing so, it’s likely to be a tiny amount and unlikely to be anywhere near as much as you could save if you shopped around, comparing lots of different tariffs from multiple energy companies.

Top ten cheapest tariffs

Supplier Tariff Annual cost Early exit fees?
Extra Energy ValuePlus Fixed Price Sept 2015 v1 £990 £25 per fuel
First Utility iSave Fixed v27 September 2015 £992 £30 per fuel
Ovo Energy Better Energy Fixed (Online) £1,011 £30 per fuel
Green Star Energy Rate Saver 12 Month Fixed 1408 Paperless £1,019 £30 per fuel
Cooperative Energy Fair & Square October 2015 £1,027 £25 per fuel
ScottishPower Online Fixed Price Energy October 2015 £1,048 None
EDF Energy Blue+ Price Promise February 2016 £1,049 None
E.on Fixed 1 year v7 £1,051 £5 per fuel
Npower Online Price Fix October 2015 £1,067 None
Ovo Energy Greener Energy Fixed (Online) £1,069 £30 per fuel

Based on dual fuel, payment by monthly direct debit, averaged across all UK regions and based on an annual energy usage of 13,500kWh gas and 3,200kWh electricity (medium user). Correct as of 26/08/2014.

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