Energy bills set to rise as fixed deals expire
Energy suppliers 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%.
Extra Energy customers on the Fresh Fixed Price Jan 2016 v10 tariff can expect to see the biggest average annual rise of £258.26 (29.64%) to their annual energy bills if they are rolled onto the supplier’s Variable Price v1 standard tariff at the end of the week.
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 customers can only expect to save between £4.22 to £29.30, depending on their provider, which pales in comparison to the hundreds of pounds they could save by shopping around for a new deal, Gocompare.com said.
Ben Wilson, energy spokesperson at the comparison site, 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.”