15th February 2016
With the UK enduring a deeply cold snap and temperatures plummeting below freezing, many households will be hit with more bad news at the end of the month, when their energy bills could leap up by as much as £258.26 as nine fixed energy deals expire.
Monday 29 February British Gas, Co-operative Energy, EDF Energy, Extra Energy, Sainsbury’s Energy & Scottish Power all have tariffs due to end.
Despite some providers announcing price cuts at the beginning of the 2016, these households will be, on average, £36.19 worse off if they are switched to their supplier’s standard variable tariff according to Gocompare.com.
It highlighted that Extra Energy customers on the Fresh Fixed Price Feb 2016 v2 tariff can expect to see the biggest average annual rise of £258.26, or 29%, to their annual energy bills if they are rolled onto the supplier’s Variable Price v1 standard tariff.
Not all tariffs ending in February will result in a price increase; this is because the suppliers’ standard variable tariffs are cheaper than the fixed deal the customer is currently on. Those on the British Gas Fix & Reward February 2016 tariff will see their energy bills fall by around £50 however, they could save as much as £292 a year by switching to a better deal, according to the comparison service.
Ben Wilson, energy spokesperson at Gocompare.com, said: “Even with the big six offering paltry price cuts to their standard gas tariffs, households could still save significantly more by shopping around for a new deal.
“There are some really competitive deals on the market at the moment, with all of the top 10 dual fuel best buyscosting under £780 a year, on average. This means the likelihood is that if you’ve been with your existing provider for more than a year, you could probably be getting a much cheaper deal elsewhere.”
Top 10 cheapest dual fuel tariffs*
|Supplier||Tariff||Tariff Type||Annual cost||Early exit fees|
|GB Energy Supply||Fixed 12 Sapphire||Fixed||£765||None|
|GB Energy Supply||Premium Energy Saver||Variable||£765||None|
|Avro Energy||Simple and Save||Variable||£766||None|
|extraenergy||Fresh Fixed Price Oct 2017 v1||Fixed||£770||£30 per fuel|
|first:utility||First Fixed April 2017 v3||Fixed||£771||£30 per fuel|
|So Energy||So Caterpillar||Fixed||£773||£5 per fuel|
|Flow Energy||Connect 5||Fixed||£774||£30 per fuel|
|SSE||SSE 1 Year Fixed v4||Fixed||£775||£30 per fuel|
|Co-operative Energy||Co-op Online March 2017||Fixed||£775||£30 per fuel|
|extraenergy||Bright Fixed Price Oct 2017 v1||Fixed||£775||£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 15/02/2016.Excludes collective tariffs.