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.

ISAs: your back-to-basics guide for 2018/19

Here’s everything you need to know to make the most of your unused ISA allowance ahead of the 5 April deadli...

A guide to Sharia savings accounts

A number of Sharia savings products have upped their game in recent months, beating more familiar competitors ...

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

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.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Read previous post:
Check EHICs before travel, warns Gocompare.com

Holidaymakers need to check their European Health Insurance Cards before they travel, as around 4.5m cards will expire this year.

Close