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Energy bills could rise by as much as £172.34 when 11 fixed dual fuel tariffs expire on New Year’s Eve

15 December 2015

11 fixed tariffs end on 31 December, which could see household energy bills increase by £172.34 (18%) on average, if they fail to shop around*

  • 11 fixed dual fuel tariffs expire on New Year’s Eve.
  • Households on these expiring tariffs face an average £172.34 (18%) bill rise if they are rolled onto their suppliers’ variable tariffs.
  • Scottish Power, Npower, Extra Energy, Co-operative Energy and Sainsbury’s Energy have tariffs that are due to end.
  • Extra Energy customers will see the largest average rise of £215.78 (23.62%)**

Households could find themselves faced with energy price rises of up to £172.34 this winter when 11 fixed dual-fuel deals expire at the end of the month.

Gocompare.com Energy is warning families to be vigilant with their energy bills this December when 11 fixed deals come to an end. Households on these expiring deals could face an average rise of 18% on their annual energy bill if they let their supplier automatically roll them onto their standard tariff.

Energy suppliers Scottish Power, Npower, Extra Energy, Co-operative Energy and Sainsbury’s Energy all have dual-fuel tariffs that are set to end on Thursday 31 December. When these tariffs expire, if customers don’t shop around and switch to a new tariff they will be automatically moved onto their supplier’s standard variable tariff and could end up paying £172.34 (18%)more for their energy.

Extra Energy customers on the Fresh Fixed Price December 2015 v2 tariffwill see the biggest rise in their energy bills at the end of December. Customers on the tariff could see an annual rise of as much as £215.78 (23.62%) if they let themselves get rolled onto Extra Energy’s Variable Price v1 standardtariff.

Households on Npower’s Price Fix December 2015 and Fix December 2015 tariffs could actually see their bills fall slightly when their fixed term comes to an end. This is because Npower’s standard variable tariff is cheaper than these fixed deals.. However, customers only stand to save £8.88 (0.79%) from being moved to the standard variable tariff, and could save significantly more by switching. Likewise, customers on Scottish Power’s Fixed Price Energy December 2015 and Fixed Price Energy December 2015 Online tariffs could see their bills fall by -£30.32 (2.65%) and £19.82 (1.75%) respectively for the same reason

Impact of tariffs coming to an end on Thursday 31 December (based on a medium user – 3,100 kWh of electricity and 12,500 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 %)

Co-operative Energy

Fair & Square December 2015

31/12/15

Yes

£970.75

£1,119.37

£148.62 (15.31%)

Extra Energy

Fresh Fixed Price Dec 2015 v1

31/12/15

Yes

£926.48

£1,129.51

£203.03

(21.91%)

Extra Energy

Bright Fixed Price Dec 2015 v1

31/12/15

Yes

£951.17

£1,129.51

£178.34 (18.75%)

Extra Energy

Fresh Fixed Price Dec 2015 v2

31/12/15

Yes

£913.73

£1,129.51

£215.78 (23.62%)

Extra Energy

Fresh Fixed Price Dec 2015 v3

31/12/15

Yes

£915.41

£1,129.51

£214.11 (23.39%)

Npower

Price Fix December 2015

31/12/15

Yes

£1,118.53

£1,109.65

-£8.88 (-0.79%)

Npower

Fix December 2015

31/12/15

Yes

£1,118.53

£1,109.65

-£8.88 (-0.79%)

Sainsbury’s Energy

Fixed Price December 2015

31/12/15

Yes

£1,001.26

£1,100.92

£99.66 (9.05%)

Scottish Power

Fixed Price Energy December 2015

31/12/15

Yes

£1,143.57

£1,113.25

-£30.32 (-2.65%)

Scottish Power

Fixed Price Energy December 2015 Online

31/12/15

Yes

£1,133.07

£1,113.25

-£19.82 (-1.75%)

Scottish Power

Online Fixed Price Energy December 2015

31/12/15

Yes

£966.40

£1,113.25

£146.85 (15.20%)



Ben Wilson, energy spokesperson at Gocompare.com, said: “With Christmas just around the corner, December can take a heavy toll on family finances and the last thing most people need is an increase in their energy bills, especially when usage is typically at its highest in the winter months.

“However, there are some really competitive dual fuel tariffs available at the moment, with some costing less than £800, on average, per year.  Shopping around for a new energy deal only takes a few minutes and you could save up to £250*** by switching energy supplier with Gocompare.com, which could go some way to help cover the cost of Christmas.”

Top ten cheapest dual fuel tariffs

Supplier

Tariff

Tariff Type

Annual cost

Early exit fees

GB Energy Supply

Premium Energy Saver

Variable

£787

None

extraenergy

Fresh Fixed Price Jan 2017 v1

Fixed

£794

£25 per fuel

Places for People Energy

Together - January 2017 - fixed 27

Fixed

£794

£30 per fuel

GB Energy Supply

Fixed 12 Emerald

Fixed

£799

None

extraenergy

Clear Fixed Price Jan 2017 v1

Fixed

£801

£25 per fuel

So Energy

So Baboon

Fixed

£810

£5 per fuel

Flow Energy

Connect 4

Fixed

£824

£30 per fuel

first:utility

iSave Fixed February 2017

Fixed

£829

£30 per fuel

extraenergy

Bright Fixed Price Jan 2017 v1

Fixed

£830

£25 per fuel

Green Star Energy

Rate Saver 12 Month Fixed 1512

Fixed

£842

£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 15/11/2015.

Gocompare.com has created a guide on gas and electricity.

-ENDS-

Notes to editors:

*Average increase across all UK regions and across all tariffs coming to an end on 31 December 2015 where the standard tariff is more expensive than the fixed deal is £215.78 (23.62%)*.

** Based on a medium user – 3,100 kWh of electricity and 12,500 kWh of gas per year – paying by monthly direct debit, average across all UK regions. Customers on the Extra Energy Fresh Fixed Price December 2015 v2 will see a £214.11 (23.39%) rise when they are moved from their current tariffs, which have an annual average cost of £913.73 to Extra Energy’s standard variable tariff which has an average cost of £1,129.51.

****Based on Gocompare.com data. At least 61% of customers who received a price for switching energy supplier for both gas and electricity with Gocompare.com saved £250 or more