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Energy bills to rise by £65 as fixed tariff deals expire

Kit Klarenberg
Written By:
Kit Klarenberg
Posted:
Updated:
18/05/2015

UK households could see their energy bills rise by £65 at the end of this month as fixed-term energy tariffs expire, Gocompare.com has warned.

The comparison site says that 10 month fixed-term customers will see an average annual rise of 5.9 per cent when their tariffs are automatically rolled onto their supplier’s standard tariff at the end of May.

In total, 14 energy tariffs are due to expire at the end of May, including those offered by British Gas, Scottish Power, Npower, M&S Energy, First:Utility and Sainsbury’s Energy.

Households in the Norweb distribution area (which includes Manchester, Blackpool and Wigan) and are on the First:Utility iSave Fixed v18 May 2015 tariff will be the hardest hit. They face an increase of £309.87 (23.68 per cent) when they are moved onto the £1,308.17 annual iSave Everyday tariff.

While the majority of tariffs ending in May will see customer’s bills rise, there are a few fixed tariffs that slightly more expensive than the supplier’s standard variable tariffs. This means that 4 of the tariffs expiring will result in customer’s bills dropping.

YMoney.TariffTable.18.5.15

“As we move into the summer, the thermostat quickly drops from most people’s minds. However, by not being an active shopper, households could be paying over the odds on their energy, regardless of their usage,” said Jeremy Cryer, energy spokesperson at Gocompare.com.

“While the deal you fixed to might have been the best option for you at the time, the energy market has become increasingly competitive over the past several months, which means it’s incredibly unlikely you’ll be getting the best deal with your supplier’s standard variable tariff.

“There are plenty of good deals to be had out there, with the top 10 cheapest tariffs in the UK all having an average annual cost of less than £1,000. Considering that switching your energy supplier online can be a quick and easy process, there’s really no excuse not to get out there and make sure you’re getting the best possible deal for you. Every households that isn’t an active energy shopper is unnecessarily putting money into energy companies pockets that should be in their own, make sure you’re not one of them.”

YMoney.TariffTable.Cheapest.18.5.15


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