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Families could face energy bill hikes of up to £258.26 at the end of the month as nine fixed dual fuel tariffs come to an end

15 February 2016

Nine fixed tariffs end on 29 February, which could see price rises of up to £258 (28.7%) if customers don’t shop around*

  • Nine fixed dual fuel tariffs expire on Monday 29 February.
  • Eight of these expiring tariffs will result in higher bills if customers are rolled onto their suppliers’ variable tariffs.
  • British Gas, Co-operative Energy, EDF Energy, Extra Energy, Sainsbury’s Energy & Scottish Power have tariffs due to end.
  • Extra Energy customers on the Fresh Fixed Price Feb 2016 v2 will see the largest average rise of £258.26 (28.77%)*.
  • Customers could save as much as £292 by switching supplier**.

With the country in the midst of a cold snap and temperatures plummeting below freezing, households will be hit with more bad news on Monday February 29th, when their energy bills could leap up by as much as £258.26 as nine fixed energy deals expire.

British Gas, Co-operative Energy, EDF Energy, Extra Energy, Sainsbury’s Energy & Scottish Power all have tariffs due to end. Despite some providers announcing price cuts at the beginning of the 2016, these households will be, on average, £36.19 worse off if they are switched to their supplier’s standard variable tariff.

Extra Energy customers on the Fresh Fixed Price Feb 2016 v2 tariffcan expect to see the biggest average annual rise of £258.26 (28.77%) to their annual energy bills if they are rolled onto the supplier’s Variable Price v1 standardtariff at the end of the week.

Not all tariffs ending in February will result in a price increase; this is because the suppliers’ standard variable tariffs are cheaper than the fixed deal the customer is currently on. Those on the British Gas Fix & Reward February 2016 tariff will see their energy bills fall by around £50 (4.48%). However, they could save as much as £292 a year by switching to a better deal with Gocompare.com.

Impact of tariffs coming to an end on Monday 29 February (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 %)

British Gas

Fix & Reward February 2016

29/02/16

Yes

£1,125.84

£1,075.42

-£50.42

(-4.48%)

British Gas

Price Promise February 2016

29/02/16

Yes

£1,046.93

£1,075.42

£28.49

(2.27%)

Co-operative Energy

Fair & Square February 2016

29/02/16

Yes

£917.40

£1,19.37

£201.98 (22.02%)

EDF Energy

Blue +Price Promise February 2016

29/02/16

Yes

£1,000.18

£1,100.41

£100.24 (10.02%)

Extra Energy

Fresh Fixed Price Feb 2016 v1

29/02/16

Yes

£871.26

£1,129.51

£258.26 (29.64%)

Extra Energy

Fresh Fixed Price Feb 2016 v2

29/02/16

Yes

£877.18

£1,129.51

£252.33 (28.77%)

iSupplyEnergy

iFix

29/02/16

No

£433.04

£496.79

£63.74 (14.72%)

iSupplyEnergy

iFix 201602 Direct

29/02/16

No

£420.44

£496.79

£76.35 (18.16%)

iSupplyEnergy

iFix V2

29/02/16

No

£421.07

£496.79

£75.71 (17.98%)

iSupplyEnergy

iFix 201602 Direct V2

29/02/16

No

£408.19

£496.79

£88.60 (21.71%)

Sainsbury's Energy

Fixed Price February 2016

29/02/16

Yes

£879.46

£1,075.42

£195.96 (18.22%)

Sainsbury's Energy

Price Freeze February 2016

29/02/16

Yes

£930.54

£1,075.42

£144.88 (13.47%)

Scottish Power

Online Fixed Price Energy February 2016

29/02/16

Yes

£886.49

£1,113.25

£226.77 (25.58%)



As most of the recent reductions to standard gas tariffs from EDF, British Gas, Scottish Power, SSE, Npower and E.on do not come into effect until mid-March, these have not been taken into account as households will still be paying the higher rate initially when these tariffs expire.

Ben Wilson, energy spokesperson at Gocompare.com, said: “Even with the big six offering paltry price cuts to their standard gas tariffs, households could still save significantly more by shopping around for a new deal.

“There are some really competitive deals on the market at the moment, with all of the top 10 dual fuel best buyscosting under £780 a year, on average. This means the likelihood is that if you’ve been with your existing provider for more than a year, you could probably be getting a much cheaper deal elsewhere.

“In fact, our research shows that households could save as much as £292 by switching energy supplier through Gocompare.com, so whether your fixed tariff is coming to an end, or you’ve been with the same supplier for a while it could really pay to take a few minutes out of your day and find out how much you could save.”

Top ten cheapest dual fuel tariffs

Supplier

Tariff

Tariff Type

Annual cost

Early exit fees

GB Energy Supply

Fixed 12 Sapphire

Fixed

£765

None

GB Energy Supply

Premium Energy Saver

Variable

£765

None

Avro Energy

Simple and Save

Variable

£766

None

extraenergy

Fresh Fixed Price Oct 2017 v1

Fixed

£770

£30 per fuel

first:utility

First Fixed April 2017 v3

Fixed

£771

£30 per fuel

So Energy

So Caterpillar

Fixed

£773

£5 per fuel

Flow Energy

Connect 5

Fixed

£774

£30 per fuel

SSE

SSE 1 Year Fixed v4

Fixed

£775

£30 per fuel

Co-operative Energy

Co-op Online March 2017

Fixed

£775

£30 per fuel

extraenergy

Bright Fixed Price Oct 2017 v1

Fixed

£775

£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 15/02/2016.Excludes collective tariffs.

Read Gocompare.com’s guides for more information on switching energy supplier.

- ENDS -

Notes to editors:

* 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 Feb 2016 v2 could see an average annual rise of £258.26 (28.77%) when they are moved from their current tariff, which has an annual average cost of £871.26 to Extra Energy’s standard variable tariff which has an average cost of £1,129.51.

**Based on Gocompare.com data. At least 51% of customers who received a price for switching energy supplier for both gas and electricity with Gocompare.com saved £292 from 01 July - 30 September 2015