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Unhappy New Year as energy tariffs ending this month could see bills increase by as much as £145

15 December 2014

13 tariffs are ending on 31 December, increasing customers’ bills by £78 on average.

Many householders could be starting the new year with a bigger energy bill as 13 fixed-term energy tariffs – including 10 from four of the UK’s ‘big six’ suppliers – will expire on New Year’s Eve, resulting in average bill hikes of almost 8% for those who haven’t yet switched to a better deal.*

EDF Energy, M&S Energy, Npower, SSE, ScottishPower and iSupplyEnergy have tariffs that will end on 31 December. Customers living in the Eastern distribution area – which includes East Anglia and Greater London – and on the ScottishPower’s Online Fixed Price Energy December 2014 tariff, are due to receive the biggest bill increase of £144.93 when they are moved onto the energy giant’s £1,177.32 standard tariff.

Impact of tariffs coming to an end on Wednesday 31 December 2014 (based on a medium user – 3,200 kWh of electricity and 13,500 kWh of gas per year – paying by monthly direct debit and averaged across all UK regions):

Supplier

Tariff coming to an end

End

date

Dual fuel?

Annual

cost

Annual cost of standard tariff

Difference

(£ and %)

EDF Energy

Blue+ Price Promise December 2014

31/12/14

Yes

£1,097.41

£1,163.60

+£66.19

(+6.03%)

M&S Energy

Fixed Price Dec 14

31/12/14

Yes

£1,081.33

£1,186.27

+£104.94

(+9.7%)

M&S Energy

Fixed Price Dec 14 Paper Billing

31/12/14

Yes

£1,093.36

£1,186.27

+£92.90

(+8.5%)

Npower

Online Price Fix December 2014

31/12/14

Yes

£1,127.41

£1,204.91

+£77.51

(+6.87%)

SSE

Fixed Discount Dec 14

31/12/14

Yes

£1,164.19

£1,186.27

+22.07

(+1.9%)

ScottishPower

Fixed Price Energy January 2015

31/12/14

Yes

£1,106.93

£1,199.12

+£92.19

(+8.33%)

ScottishPower

Fixed Price Energy January 2015 NSC

31/12/14

Yes

£1,106.92

£1,199.12

+£92.20

(+8.33%)

ScottishPower

Fixed Price Energy January 2015 Online

31/12/14

Yes

£1,091.18

£1,199.12

+£107.94

(+9.89%)

ScottishPower

Fixed Price Energy January 2015 Online NSC

31/12/14

Yes

£1,091.17

£1,199.12

+£107.95

(+9.89%)

ScottishPower

Help Beat Cancer Discounted Energy January 2015

31/12/14

Yes

£1,162.74

£1,199.12

+£36.37

(+3.13%)

ScottishPower

Help Beat Cancer Discounted Energy January 2015 Online

31/12/14

Yes

£1,152.24

£1,199.12

+£46.87

(+4.07%)

ScottishPower

Online Fixed Price Energy December 2014

31/12/14

Yes

£1,086.20

£1,199.12

+£112.92

(+10.4%)

iSupplyEnergy

iFix (pre 4th Dec 2013)

31/12/14

No (elec only)

£453.70

£510.04

+£56.34

(+12.42%



Jeremy Cryer, spokesperson at Gocompare.com Energy, said: “Despite a mild autumn, temperatures have really plummeted this week, and with colder weather forecast British households will be using more energy to heat their homes. As such, it’s important that people make sure they are on the right gas and electricity tariffs so they can help reduce their big winter bills.

“This is particularly true for those whose fixed tariffs are coming to an end this month, and who have yet to shop around and switch. They must take action now so that they can benefit from cheaper energy as soon as possible.

“There are lots of good deals to be had right now, and they are certainly a far better option than any supplier’s standard tariff. In fact, there are eight sub-£1,000 a year dual fuel tariffs available at the moment.

“If you are reluctant to switch to another fixed deal in case a better one comes along in a few weeks’ time, bear in mind that some suppliers don’t charge an early exit fee, while others charge very little. As such, signing up with these providers is less risky should you wish to switch away again part-way through your contract. That said, others charge as much as £30 per fuel for early exits, so any savings have to be quite substantial to justify taking a hit of up to £60 to leave before the end date.

“This is why it’s so important to shop around carefully, and check that you’re happy with everything – the cost, any exit fees, the account management options, and payment type – before you sign up. Comparison websites make this task easy, saving you lots of time in the hunt for a good energy deal.”

Top ten cheapest dual fuel tariffs

Supplier

Tariff

Annual cost

Early exit fees

First Utility

iSave Fixed v41 March 2016

£951

£30 per fuel 

Extra Energy

Fresh Fixed Price March 2016 v1

£951

£25 per fuel 

Extra Energy

Merry Christmas Fixed Price Jan 2016 v1

£951

£25 per fuel 

Npower

Fixed Energy Online April 2016

£963

None

ScottishPower

Online Fixed Price Energy January 2016

£970

None

Ovo Energy

Better Energy Fixed (Online)

£973

£30 per fuel

Green Star Energy

Rate Saver 12 Month Fixed 1412 Paperless

£987

£30 per fuel

Sainsbury's Energy

Fixed Price January 2016

£998

£30 per fuel

Cooperative Energy

Fair & Square January 2016

£1,008

£25 per fuel 

Green Star Energy

Green Saver 12 Month Fixed 1412 Paperless

£1,022

£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 15/12/2014.

For more information on switching energy supplier, read Gocompare.com’s guides, here: http://www.gocompare.com/gas-and-electricity/guide/

-ends-

Notes to editors:

*Average increase across all UK regions, and across all tariffs coming to an end on 31 December 2014 is 7.65%, or £78.18.