15th December 2015
Households could find themselves faced with energy price rises of up to £172.34 this winter when 11 fixed dual-fuel deals expire at the end of the month.
Gocompare.com is warning families to be vigilant with their energy bills this December when 11 fixed deals come to an end.
Households on these expiring deals could face an average rise of 18% on their annual energy bill if they let their supplier automatically roll them onto their standard tariff.
Energy suppliers Scottish Power, Npower, Extra Energy, Co-operative Energy and Sainsbury’s Energy all have dual-fuel tariffs that are set to end on Thursday 31 December.
When these tariffs expire, if customers don’t shop around and switch to a new tariff they will be automatically moved onto their supplier’s standard variable tariff and could end up paying £172.34, or 18%, more for their energy.
Extra Energy customers on the Fresh Fixed Price December 2015 v2 tariff will see the biggest rise in their energy bills at the end of December.
Customers on the tariff could see an annual rise of as much as £215.78, a hike of almost 24%, if they let themselves get rolled onto Extra Energy’s Variable Price v1 standard tariff.
Households on Npower’s Price Fix December 2015 and Fix December 2015 tariffs could actually see their bills fall slightly when their fixed term comes to an end.
This is because Npower’s standard variable tariff is cheaper than these fixed deals. However, customers only stand to save £8.88 from being moved to the standard variable tariff, and could save significantly more by switching.
Likewise, customers on Scottish Power’s Fixed Price Energy December 2015 and Fixed Price Energy December 2015 Online tariffs could see their bills fall by -£30.32 (2.65%) and £19.82 (1.75%) respectively for the same reason
Ben Wilson, energy spokesperson at Gocompare.com, said: “With Christmas just around the corner, December can take a heavy toll on family finances and the last thing most people need is an increase in their energy bills, especially when usage is typically at its highest in the winter months.
“However, there are some really competitive dual fuel tariffs available at the moment, with some costing less than £800, on average, per year. Shopping around for a new energy deal only takes a few minutes and you could save up to £250 by switching energy supplier with Gocompare.com, which could go some way to help cover the cost of Christmas.”
Top 10 cheapest dual fuel tariffs*
|Supplier||Tariff||Tariff Type||Annual cost||Early exit fees|
|GB Energy Supply||Premium Energy Saver||Variable||£787||None|
|extraenergy||Fresh Fixed Price Jan 2017 v1||Fixed||£794||£25 per fuel|
|Places for People Energy||Together – January 2017 – fixed 27||Fixed||£794||£30 per fuel|
|GB Energy Supply||Fixed 12 Emerald||Fixed||£799||None|
|extraenergy||Clear Fixed Price Jan 2017 v1||Fixed||£801||£25 per fuel|
|So Energy||So Baboon||Fixed||£810||£5 per fuel|
|Flow Energy||Connect 4||Fixed||£824||£30 per fuel|
|first:utility||iSave Fixed February 2017||Fixed||£829||£30 per fuel|
|extraenergy||Bright Fixed Price Jan 2017 v1||Fixed||£830||£25 per fuel|
|Green Star Energy||Rate Saver 12 Month Fixed 1512||Fixed||£842||£30 per fuel|
*Based on dual fuel, payment by monthly direct debit, averaged across all UK regions and for households with an annual energy usage of 12,500kWh gas and 3,100kWh electricity (medium user). Correct as of 15/11/2015.