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Six energy firms have hiked default tariff rates

Paloma Kubiak
Written By:
Paloma Kubiak
Posted:
Updated:
15/03/2018

Customers of six energy suppliers have seen their bills increase over the last four months as Standard Variable Tariffs have risen.

All in all, dual fuel customers who are affected will see their annual bills go up by an average of £55 or 5%, according to comparison site, uSwitch.

Given another cold snap is on the way, energy customers are urged to protect themselves against further price rises by switching to a cheaper deal.

Estimates by uSwitch reveal energy customers on pricey default tariffs could save up to £491 by locking in to a cheaper fix.

uswitchsvtdata

Energy expert at uSwitch, Claire Osborne, said: “Over the last four months, six energy companies have announced that bills for customers on Standard Variable Tariffs will be going up, and it’s possible that other suppliers may follow suit.

“Wholesale and Government policy costs have seen small increases but consumers will still wonder whether suppliers are doing everything they can to keep prices down. 60% of households are on poor-value standard variable tariffs, but they don’t have to accept price rises. By switching away from an expensive SVT to a cheaper deal, they can save up to £491 and protect themselves against future increases.

“Consumers should not be lulled into a false sense of security waiting for a price cap to protect them. They can vote with their feet and save hundreds of pounds right now – far more and far quicker than any price cap is able to deliver.”