You are here: Home - Household Bills - News -

Those on soon-to-expire energy tariffs urged to switch

0
Written by:
02/07/2014
Energy customers whose fixed rate tariffs expire in August 2014 could find their bills increasing by up to £150 per year if they don’t switch providers.

According to MoneySuperMarket.com 13 fixed rate energy tariffs are due to expire at the end of August, including several from Scottish Power, Npower and Sainsbury’s Energy. Customers on these tariffs that roll over automatically to a standard tariff could end up paying anywhere from £15.09 to £148.07 more per year for their energy.

Clare Francis, editor-in-chief at MoneySuperMarket.com, said: “Fixed energy deals have been a popular choice for bill payers looking to protect themselves from price hikes. With so many coming to an end over the next few months, it’s crucial those affected move to a new tariff to avoid being caught out by rocketing bills.”

The current leading tariff – First Utility’s iSave Fixed September 2015 tariff – has an average bill of £992.45, £212 cheaper than Scottish Power’s standard tariff.

However consumers looking to switch energy providers should time their move carefully, as exit fees can be as much as £70 and the transition can take between four and six weeks.

Francis continued: “Failing to act when an existing deal ends means bill payers will pay over the odds for the gas and electricity they use. Switching energy providers is really simple – you can find the cheapest deal and apply in less than 10 minutes, so there really is no excuse and it can result in big savings.”

Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Your right to a refund if travel is affected by train strikes

There have been a wave of train strikes in the past six months, and for anyone travelling today Friday 3 Febru...

Could you save money with a social broadband tariff?

Two-thirds of low-income households are unaware they could be saving on broadband, according to Uswitch.

How to help others and donate to food banks this winter

This winter is expected to be the most challenging yet for the food bank network as soaring costs push more pe...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Five tips for surviving a bear market mauling

The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...

Money Tips of the Week