28th January 2016
Many households could see their bills soar by more than £206 if they do not act fast and switch tariffs by the end of the week, when no less than 26 fixed energy deals expire.
Switching site Gocompare.com highlighted that Co-operative Energy Extra Energy, First:Utility, M&S Energy, Npower, Sainsbury’s Energy & Scottish Power all have tariffs due to end at which point customers will be automatically rolled onto their supplier’s standard variable tariff, which could result in average annual increases of 22.53%.
Worst hit will be Extra Energy customers on the Fresh Fixed Price Jan 2016 v10 deal.
They can expect to see the biggest average annual rise of £258.26, some 30%, to their energy bills if they are rolled onto the supplier’s Variable Price v1 standard tariff.
But not all tariffs ending in January will result in a price increase. Those on M&S Energy’s Fix & More Jan 16 Paperless Billing and Fix & More Jan 16 Paper Billing tariffs, the iSave Fixed v10 January 2016 tariff from First: Utility and Scottish Power’s Fixed Price Energy February 2016 Online will see their bills fall slightly when their tariffs expire on 31 January.
This is because the suppliers’ standard variable tariffs are cheaper than the fixed deal they are currently on. However, these bill-payers can only expect to save between £4.22 to £29.30 depending on their provider.
Ben Wilson, energy spokesperson at Gocompare.com, said: “With more winter weather to come, many of us will be switching the heating on to shut out the cold. That’s why it’s so important, particularly right now, to make sure you’re not paying more than you have to for your energy.
“While some big energy providers have started to lower the cost of their variable tariffs, the likelihood is customers could be saving significantly more by switching.
“Finding a new energy supplier only takes a few minutes, and with a range of really competitive tariffs available at the moment, it makes sense to be an active energy shopper.”
Top ten cheapest dual fuel tariffs*
|Supplier||Tariff||Tariff Type||Annual cost||Early exit fees|
|extraenergy||Fresh Fixed Price Feb 2017 v4||Fixed||£768||£25 per fuel|
|E.ON||Fixed 1 Year v19 Paperless Billing||Fixed||£769||£30 per fuel|
|extraenergy||Clear Fixed Price Feb 2017 v3||Fixed||£772||£25 per fuel|
|SSE||SSE 1 Year Fixed v4||Fixed||£775||£30 per fuel|
|GB Energy Supply||Premium Energy Saver||Variable||£787||None|
|Places for People Energy||Together – February 2017 – fixed 30||Fixed||£794||£30 per fuel|
|Avro Energy||Simple and Save||Variable||£795||None|
|GB Energy Supply||Fixed 12 Emerald||Fixed||£799||None|
|GnERGY||Fixed February 2017 v1||Fixed||£802||£25 per fuel|
|iSupplyEnergy||iFix February 2017||Fixed||£804||£30 per fuel|
*Based on dual fuel, payment by monthly direct debit, averaged across all UK regions and for households with an annual energy usage of 12,500kWh gas and 3,100kWh electricity (medium user). Correct as of 27/01/2016.Excludes collective tariffs.