Consumers face energy price hike of up to £258 as energy plans end | Uswitch
Consumers face energy price hike of up to £258 as energy plans end
Written by Thomas Lyon, Money Expert
Households on 24 fixed energy deals could see their bills rise by up to £258 a year unless they act now and move to a new tariff, according to Uswitch.com, the independent price comparison and switching service.
Customers on plans from five energy suppliers which expire on 31st January risk being automatically transferred onto a potentially more expensive rollover standard tariff, hiking bills up by an average of £213 a year.
Tom Lyon, energy expert at Uswitch.com, says: “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.”
Fixed energy plans coming to an end in January 2016
Rollover difference
Extra Energy Fresh Fixed Price Jan 2016 v10 £871.26 Variable Price v1 £258.26
Extra Energy Fresh Fixed Price Jan 2016 v9 £872.29 Variable Price v1 £257.22
Extra Energy Bright Fixed Price Jan 2016 v9 £877.87 Variable Price v1 £251.65
Extra Energy Merry Christmas fixed Price Jan 2016 v1 £905.94 Variable Price v1 £223.58
npower Online Price Fix Jan 2016 £921.88 Standard SC £187.78
ScottishPower Online Fixed Price Energy January 2016 £923.74 Online Standard £179.02
Sainsbury’s Energy Fixed Price January 2016 £951.36 Variable Price v1 £124.06
Co-operative Energy Fair & Square January 2016 £962.84 Pioneer – DD £156.53
Sainsbury’s Energy Price Freeze January 2016 £975.93 Standard £99.49
First Utility iSave Fixed v10 January 2016 £1093.52 iSave Everyday £-18.20
ScottishPower Fixed Price Energy Online February 2016 £1106.97 Online Standard £-4.22
ScottishPower Fixed Price Energy 2016 £1117.47 Online Standard £-14.72
M&S Energy M&S Energy Fix & More Jan 16 £1117.83 M&S Energy Standard Energy £-29.32
Source: Uswitch.com. Prices based on average energy consumption.
Best buy energy plans paying by monthly Direct Debit
1 GB Energy Supply Premium Energy Saver £787 Variable
2 Places For People Together – February 2017- fixed 29 £794 Fixed
3 Gnergy GnERGY Fixed February 2017 £802 Fixed
4 iSupply iFix 201702 £804 Fixed
5 So Energy So Badger £806 Fixed
6 Go Effortless Energy December 2015 v2 £811 Fixed
7 npower Fixed Energy Online January 2017 £816 Fixed
8 First:Utility First Fixed March 2017 v2 £817 Fixed
9 Flow Connect4 £824 Fixed
10 Green Star Energy Rate Saver 12m Fixed 1601 £826 Fixed
Source: Uswitch.com. Prices based on average energy consumption. Correct as of 12th January, 2016.