Energy bills to rise by £250 as fixed tariffs end in January
According to price comparison site uSwitch, 24 fixed energy deals are coming to an end this January and households could see their bills rise by up to £258 a year unless they act now and move to a new tariff.
Customers on plans from five energy suppliers which expire on 31 January (Extra Energy, nPower, Scottish Power, Co-Operative Energy and Sainsbury’s Energy) risk being transferred to their suppliers’ expensive default standard variable tariff.
This could hike bills by an average of £213 a year, says uSwitch.
Best buy energy plans paying by monthly Direct Debit
For customers opting to pay by direct debit, these are the best buys, according to uSwitch:
- GB Energy Supply – Premium Energy Saver – average bill of £787. This is a variable tariff so the price can change
- Places For People – Together February 2017 fixed 29 – fixed tariff with an average bill of £794
- Gnergy – GnERGY Fixed February 2017 – fixed tariff with an average bill of £802
- iSupply – iFix 201702 – fixed tariff with an average bill of £804
- So Energy – So Badger – fixed tariff with an average bill of £806.
‘Shop around now for a better deal’
Tom Lyon, energy expert at uSwitch.com, said: “Fixed energy tariffs are often hundreds of pounds cheaper than standard variable plans and protect consumers from price rises. However, when these deals end, customers can get a shock as prices usually jump when they’re rolled over to their supplier’s standard variable plan.
“If you’re on a fixed energy plan which ends this month, shop around now for a better deal to avoid a shock price rise. It’s worth noting that any early exit fees on your old plan no longer apply.
“Even if your fixed deal ended last month, it’s not too late to switch and cut your bills before this winter’s cold weather finally sets in.”