6 out of 8 tariffs ending will give consumers a 9.43% price sting if they don’t act
- Norweb First:Utility customers to be hit with a £317 (24%) price hike.
- 8 energy tariffs are ending on April 30th.
- 6 increases will add £91.05 a year to average customers’ bills (9.43%).
- iSupply Energy customers on the electricity only iFix tariff will see an increase of 13.16% to their bills if they roll on to the iSupply standard tariff on May 1st.
Loyal customers could see their energy bills rise by an average of £91.05 at the end of April, when 6 fixed-term energy tariffs expire.* Those yet to switch to a cheaper deal will see their annual bills rise by 9.43% on average as they are automatically rolled onto their supplier’s standard tariff.
British Gas, Npower, First:Utility and iSupply Energy all have tariffs that come to an end on Thursday 30th April, but British Gas customers are the only ones who will benefit from lower bills by being automatically moved to the standard tariff.
Households on the First:Utility iSave Fixed v23 April 2015 tariff and who live in the Norweb distribution area (which includes Manchester, Blackpool and Wigan) could see the biggest jump to their energy bills, with an huge increase of £317.76 (24%) if they are moved onto the £1,308.17 a year iSave Everyday tariff**.
British Gas customers’ bills will automatically fall (by 3.18%) because their standard variable tariff is now cheaper than the British Gas Price Promise April 2015 and Price Promise April 2015 with EnergySmart tariffs which finish at the end of the month. However, even with this reduction, an average customer could save up to a further £243.00*** a year by switching to one of the top ten cheapest fixed deals on the market instead of sticking with British Gas on their standard tariff.
Impact of tariffs coming to an end on Thursday 30 April 2015 (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):
Tariff coming to an end
Annual cost of standard tariff
(£ and %)
Price Promise April 2015
Price Promise April 2015 with Energysmart
Blue +Price Promise April 2015
iSave Fixed v9 April 2015
iSave Fixed v15 April 2015
iSave Fixed v23 April 2015
iFix (pre 23rd April 2014)
Price Fix April 2015
Jeremy Cryer, energy spokesperson at Gocompare.com, said: “While it’s really important to be an active energy shopper, it’s important not to get complacent once you have found a fixed tariff that’s good for you. Once your fixed term ends, it’s likely you’ll see your energy bills rise unless you take action, so it’s really worth getting online and seeing what’s out there when your notification letter comes through the door.
“Thanks to switching becoming easier and the rise in popularity of smaller suppliers, the energy market is extremely competitive at the moment. This means there are some great fixed deals available right now, with the top 10 cheapest tariffs available all costing less than £1,000 a year, on average.
“Finding out if you could save money by switching energy supplier online can be a quick and easy process. With significant savings to be found for some households, customers are really doing themselves a disservice by rolling onto their supplier’s standard tariff when their existing fixed deal ends.”
Top ten cheapest dual fuel deals as of 14/04/2015
Early exit fees
Fresh Fixed Price Sept 2016 v1
£25 per fuel
Connect March 2016
Fixed June 2016 v1
£25 per fuel
Fixed Price April 2016
£30 per fuel
iSave Fixed May 2016
£30 per fuel
Fair & Square May 2016
£25 per fuel
Online Fixed Price Energy April 2016
Price Fix July 2016
Green Star Energy
Rate Saver 18 Month Fixed 1504 Paperless
£30 per fuel
Blue+Price Promise June 2016
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 14/04/2015.
For more information on switching supplier, read Gocompare.com's gas and electricity guide.
Notes to editors:
*Average increase across all UK regions for the 6 tariffs coming to an end on 30 April 2015) where the standard tariff is more expensive than the fixed deal is 9.43%, or £91.05 a year.
** based on a medium user – 3,200 kWh of electricity and 13,500 kWh of gas per year – paying by monthly direct debit, living in the Norweb distribution area. The iSave Fixed v23 April 2015 tariff has an average annual cost of £990.41 for Norweb customers. The iSave Everyday tariff has an average annual cost of £1,308.17 for Norweb customers, a difference of £317.76 (24%).
*** 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. The cheapest tariff on the market is the extraenergy Fresh Fixed Price Sept 2016 v1 which has an annual average cost of £913. This is £243.11 cheaper than the British Gas standard variable tariff which costs £1,156.11 per year.