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Households braced for an average 11.8%* price rise as eight fixed and capped tariffs come to an end this weekend

29 November 2013

British Gas customers could see biggest average bill increase of £195.17**

For thousands of households, tomorrow (Saturday 30 November) marks the end of their fixed and capped tariffs and the start of potentially much higher bills – unless they switch.

Across the country, customers on the tariffs coming to an end tomorrow could expect to pay an average of 11.8% more for their energy once they are moved to their provider’s standard tariff. Gocompare.com’s research shows that British Gas customers on the Online Variable November 2013 – Paperless tariff could face the biggest annual increase of £195.17, on average.

Unless customers on these tariffs have either already chosen which tariff they’d like to move to with their existing energy provider, or switched to another company, they will be moved on to their current supplier’s standard tariff. And for all customers on these tariffs, this is likely to spell higher bills.

For example, a British Gas customer on the aforementioned tariff, living in Cardiff, would currently spend £1,202.16 a year on their energy, which would rise to £1,399.74 on British Gas’s standard tariff. They could move to E.ON’S Fixed 1 Year v5 at an annual cost of £1,192.74, or First Utility’s iSave Fixed v12 June 2015, which would cost them £1,194.21, saving them over £200 in each case.

Impact of tariffs coming to an end this Saturday, 30 November (based on a medium user – 3,300 kWh of electricity and 16,500 kWh of gas per year – paying by monthly direct debit and averaged across all UK regions):

Supplier

Tariff

Annual

cost

Annual cost of standard tariff

Difference

(£ and %)

British Gas

Discount Variable November 2013

£1,218.85

£1,388.33

+£169.48

(+13.91%)

British Gas

Online Variable November 2013 – paperless

£1,193.16

£1,388.33

+£195.17

(+16.37%)

British Gas

Online Variable November 2013 with EnergyExtra50 – Paperless

£1,229.16

£1,388.33

+£159.17

(+12.96%)

British Gas

Fix and Fall November 2013

£1,273.41

£1,388.33

+£114.92

(+9.03%)

Npower

Bill Saver November 2013

£1,189.61

£1,257.61

+£68.01

(+5.72%)

Npower

Electricity Online November 2013 – Paperless

£456.23

£516.98

+£60.75

(+13.55%)

Sainsbury’s Energy

Discount Variable November 2013

£1,218.85

£1,388.33

+£169.48

(+13.91%)

Sainsbury’s Energy

Price Pledge November 2013 – Paperless

£1,270.40

£1,388.33

+£117.93

(+9.29%)



Caroline Lloyd, energy spokesperson at Gocompare.com, said: “Lots of people could be affected by the tariff changes coming in this weekend. Hopefully, many will have already taken action and switched, prompted by the notification letter from their existing supplier. But, for most of those who haven't, our research suggests they could see their energy bills leap considerably.

"The average price rise of 11.8% that could be felt by customers on these tariffs exceeds even the biggest price hike announced by the big six so far this winter. This is why it’s so important that people shop around regularly and compare their tariff against others that are available to them.

“When you receive a letter from your energy supplier informing you that your current fixed or capped tariff is coming to an end, that’s when you should head straight to a comparison site. With just your postcode, annual usage figures – which you can get quickly and easily from your supplier – and a few other details, you can check how your tariff stacks up against all other tariffs on the market. And, if you find a better deal, just switch – it’s the same gas and electricity no matter who your provider is, so why pay more?”

-ends-

Notes to editors:

* Average percentage increase across all UK regions, and across all tariffs coming to an end on 30 November 2013 is 11.84%

** Average bill increase for British Gas customers with the Online Variable November 2013 – Paperless tariff, across all regions, is £195.17