Many UK households to be hit with energy price rises of more than £320 as spate of fixed deals set to finish

20th July 2015

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Loyal energy customers who fail to shop around could endure bill rises as high as £327.80 a year as eleven fixed tariffs end in July.

British Gas, EDF, Scottish Power, First:Utility, Sainsbury’s Energy and Co-operative Energy all have tariffs due to expire at the end of the month, with customers who do not switch to a better deal facing a near 5% increase in their energy bills when they are rolled onto their suppliers’ standard tariffs.

According to switching site Gocompare.com, those in the Norweb region, including Manchester, Bolton and Lancaster, are set to see the biggest rises.  First:Utility customers in the region, currently on the expiring iSave Fixed v20 July 2015 tariff will see a massive £327.80, or 25%, rise in their energy bills when they are automatically rolled onto the supplier’s £1,134.85 a year standard variable tariff.

Impact of tariffs coming to an end on Friday 31 July

Supplier Tariff coming to an end Enddate Dual fuel? AnnualCost Annual cost of standard tariff Difference(£ and %)
British Gas Price Promise July 2015 31/07/15 Yes £1,193.31 £1,156.11 -£37.21*** (-3.12%)
British Gas Price Promise July 2015 with EnergySmart 31/07/15 Yes £1,193.31 £1,156.11 -£37.21*** (-3.12%)
Co-operative Energy Fixed Price July 2015 31/07/15 Yes £1,076.73 £1,176.43 £99.69 (9.26%)
Co-operative Energy Fixed Price July 2015 Paper Billing 31/07/15 Yes £1,076.73 £1,176.43 £99.69 (9.26%)
EDF Energy Blue+ Price Promise July 2015 31/07/15 Yes £1,069.82 1,154.53 £84.71 (7.92%)
First:Utility iSave Fixed v14 July 2015 31/07/15 Yes £1,036.96 £1,134.85 £97.88 (8.63%)
First:Utility iSave Fixed v14 July 2015 31/07/15 £994.48 £1,134.85 £140.37 (12.37%)
Isupply iFix (pre 22nd May 2014) 31/07/15 No £440.28 £510.04 £69.76 (15.84%)
Sainsbury’s Energy Price Promise July 2015 31/07/15 Yes £1,193.31 £1,156.11 -£37.21 (-3.22%)
Scottish Power Help Beat Cancer Discounted Energy Aug 2015 31/07/2015 Yes £1,130.97 £1,166.37 £35.41 (3.13%)
Scottish Power Help Beat Cancer Discounted Energy Aug 2015 Online 31/07/2015 Yes £1,120.47 £1,166.37 £45.91 (4.10%)
Scottish Power Online Fixed Price Energy July 2015 31/07/2015 Yes £1,075.87 £1,166.37 £90.51 (8.41%)

*** does not include 5% gas price cut to take effect from August 27th

Some customers however may see their energy bills fall when their fixed tariff comes to an end in July. Gocompare.com said customers on British Gas’ Price Promise July 2015 and Price Promise July 2015 with EnergySmart will see their bills drop by £37.21. Customers on the Sainsbury’s Energy Price Promise July 2015, which is powered by British Gas, will see their bills drop by the same amount. However, despite this cut, customers would save even more money by switching to one of the top 10 cheapest fixed deals on the market than by sticking with their existing supplier

Caroline Lloyd of Gocompare.com said: “Just because your thermostat level and central heating may come down during the hotter months, there’s a very real chance that your energy bills could go up significantly if you fail to keep track of when your fixed tariff ends.

“There are lots of really competitive tariffs on the market at the moment for customers willing to shop around. It only takes a few minutes to get online and check that you’re getting the best deal on your energy, so make sure you’re an active energy shopper this summer and don’t sleep walk onto your supplier’s expensive variable tariff.”

Top 10 cheapest dual fuel tariffs

Supplier Tariff Tariff type Annual cost Early exit fees
GB Energy Supply Premium Energy Saver Variable £870 None
SSE SSE 1 Year Fixed Fixed £899 £30 per fuel
first:utility iSave Fixed December 2016 Fixed £905 £30 per fuel
GnERGY Fixed September 2016 v1 Fixed £909 £25 per fuel
extraenergy Fresh Fixed Price Nov 2016 v1 Fixed £912 £25 per fuel
Flow Energy Connect Fixed £913 None
extraenergy Clear Fixed Price Nov 2016 v1 Fixed £913 £25 per fuel
Green Star Energy Rate Saver 12 Month Fixed 2507 Paperless Fixed £920 £30 per fuel
Sainsbury’s Energy Fixed Price July 2016 Fixed £930 £30 per fuel
Green Star Energy Rate Saver 12 Month Fixed 1507 Plus Paperless Fixed £931 £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 13,500kWh gas and 3,200kWh electricity (medium user). Correct as of 20/07/2015.

 

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