1st October 2014
Households have been urged to check their energy bills as 12 fixed-rate tariffs are expiring at the end of the month, adding up to £205 to the cost of annual bills
Jeremy Cryer, energy spokesman at Gocompare.com, the price comparison website, said: ” With summer behind us and darker, colder months looming, we’re entering into the peak energy use time of year, so it’s important that householders review their tariffs and compare the other deals available to ensure they’re on a competitive tariff that’s suitable for their needs.
“While many fixed tariffs have early exit fees, which can be as high as £30 per fuel, Ofgem has made sure that customers on soon-to-expire fixed tariffs can shop around without being penalised. ”
Under the new rules, once you receive notification from your supplier of your fixed tariff coming to an end – typically 42 to 49 days before it’s due to finish – you can switch without being charged an exit fee.
Cryer warned: “That may seem like a long notice period, but it can take that long to complete the switch to a new supplier, so acting quickly will help ensure you don’t pay more than you need to for longer than is necessary.
“Inaction can be expensive as energy suppliers’ standard tariffs are often the worst option if value for money is what you’re after. ”
The 12 tariffs due to end on October 31 are:
The 10 cheapest current dual fuel deals are: