9th February 2015
Customers on 11 of the 12 fixed dual fuel tariffs due to end soon could see their average bills rise by as much as £117.34, comparison site Gocompare.com has warned.
On 28 February, 12 fixed dual fuel energy tariffs are due to expire – including those from four of the big six including British Gas, EDF, Npower and Scottish Power.
In 11 out of the 12 cases this could result in customers facing an average annual bill increase of 6.7% – or £68.71 – unless the householders have taken action and shopped around for a new energy tariff.
Suppliers with dual fuel deals expiring at the end of the month are: British Gas, Scottish Power, Npower, Sainsbury’s Energy and M&S Energy. Scottish Power alone has five deals ending in February.
Gocompare.com said those who live in the north of England are due to be hit the hardest, with households in Yorkshire on Npower’s Online Price Fix February 2015, expected to see largest average bill increase of £117.34, an eye watering rise of 11.15%.
But those on the British Gas Fix & Fall February 2015 tariff will actually see the cost of their energy drop by 5.7%. This is because the tariff is actually more expensive than British Gas’s new standard variable tariff, which comes into force on the 27 February.
But customers who don’t elect to move to a different tariff will automatically be moved onto the standard tariff when their fixed deal expires. However, at an average annual cost of £1,156, this is still £243 a year more expensive than the cheapest fixed deal on the market which is Extra Energy’s Fresh Fixed Price February 2016 v1 and has an average annual cost of £913.
In addition to the 12 expiring dual fuel deals, iSupply Energy’s iFix electricity only tariff also ends on February 28th. On average, households on the tariff could see a 12.21% rise in energy bills, an equivalent of £55.49 if they are rolled over onto the supplier’s standard variable tariff.
Impact of tariffs coming to an end on Saturday 28 February 2015 (based on a medium user – 3,200 kWh of electricity and 13,500 kWh of gas per year – paying by monthly direct debit and averaged across all UK regions):
|Supplier||Tariff coming to an end||Dual fuel?||Annualcost||Annual cost of standard tariff||Difference(£ and %)|
|British Gas||Fixed Price February 2015||Yes||£1,091.87||£1,156||+£64.13(+5.87%)|
|British Gas||Fixed & Fall February 2015||Yes||£1,192.97||£1,156||-£36.97(-5.76%)|
|EDF Energy||Blue +Price Promise February 2015||Yes||£1,071.95||£1,155||+£83.05(+7.55%)|
|EDF Energy||Blue +Price Promise February 2015 Gas Carbon Offset||Yes||£1,091.37||£1,155||+63.63(+5.83%)|
|M&S Energy||Capped Price||Yes||£1,111.73||£1,186.27||+£74.54(+6.70%)|
|Npower||Online Price Fix February 2015||Yes||£1,051.66||£1,169||+£117.34(+11.15%)|
|Sainsbury’s Energy||Fixed Price February 2015||Yes||£1,091.87||£1,192.97||+£101.10(+8.47%)|
|Scottish Power||Fixed Price Energy March 2015 v2||Yes||£1,152||£1,167||+£15(+1.30%)|
|Scottish Power||Fixed Price Energy March 2015 v2 Online||Yes||£1,141.51||£1,167||+£25.49(+2.23%)|
|Scottish Power||Online Fixed Price Energy February 2014||Yes||£1,109.09||£1,167||+£57.91(+5.22%)|
|Scottish Power||Online Fixed Price Energy February 2014 v2||Yes||£1,086.35||£1,167||+£80.65(+7.42%)|
|Scottish Power||Online Fixed Price Energy February 2014 v3||Yes||£1,080.85||£1,167||+£86.15(+7.97%)|
Jeremy Cryer of Gocompare.com said: “It’s really important for people on these tariffs to shop around for a better deal now if they haven’t done so already. Although many fixed tariffs have early exit fees, Ofgem has ensured that customers on soon-to-expire fixed tariffs can move supplier without being penalised.
“Under these rules, once a customer receives notification from their supplier that their fixed tariff is coming to an end – typically 42 to 49 days before it’s due to finish – they are able to switch without being charged an exit fee. Though nearly 50 days may seem like a long notice period, it can take several weeks to complete the switch to a new supplier, making it vital for households act quickly to ensure they beat the price hikes.”
Standard variable tariffs are usually the most expensive tariffs offered by suppliers and as fixed tariffs typically roll over to the supplier’s standard tariffs when they expire. “It’s important to be an active energy shopper to get the best value for money. There are some attractive fixed options available at the moment with average annual bills as low as £913.00 a year. For those customers with tariffs about to expire, now is the ideal time to compare tariffs and find the most competitive deal,” added Cryer.
Top ten cheapest dual fuel tariffs
|Supplier||Tariff||Annual cost||Early exit fees|
|extraenergy||Fresh Fixed Price February 2016 v1||£913||£25 per fuel|
|first:utility||iSave Fixed v44 March 2016||£919||£30 per fuel|
|extraenergy||Bright Fixed Price Jan 2016 v9||£919||£25 per fuel|
|extraenergy||Clear Fixed Price March 2016 v5||£919||£25 per fuel|
|Ovo||Better Energy Fixed (Online)||£920||£30 per fuel|
|Fixed 1 Year v15 Paperless Billing||£920||£5 per fuel|
|Sainsbury’s Energy||Fixed Price February 2016||£922||£30 per fuel|
|npower||Price Fix May 2016||£927||None|
|ScottishPower||Online Fixed Price Energy February 2016||£930||None|
|Green Star Energy||Rate Saver 12 Month Fixed 1501 Paperless||£932||£30|
Based on dual fuel, payment by monthly direct debit, averaged across all UK regions and for households with an annual energy usage of 13,500kWh gas and 3,200kWh electricity (medium user). Correct as of 09/02/2015.