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Time to Brrrrr-exit…UK households on these energy tariffs could see price rises of £222.18 this winter

23 November 2016

Affected households will see bills rise by 26.60% on average while energy use is at its highest

  • There are 78 fixed dual fuel tariffs coming to an end over the winter months (68 of which will see bills rise if customers don't switch);
  • The average rise for affected households is £222.18 (+26.60%);
  • However, the worst-hit customers face a £335.83 (+42.31%) price hike;
  • New Year will see the most tariffs ending, with 33 deals expiring on 31 December 2016;
  • Suppliers with tariffs ending include: EDF Energy, Npower, Scottish Power, Sainsbury's Energy, First:Utility and Extra Energy

UK households face huge energy hikes this winter, according to a new study by Gocompare.com Energy. On average, affected households will see an annual price increase of £222.18 (26.60%) as dozens of fixed dual fuel tariffs expire between now and January 31st.

Across the winter months 78 fixed dual deals from 13 suppliers (including five of the 'big six') will come to an end, and the majority (68 tariffs) will see people automatically rolled onto a standard variable rate (SVR) which is more expensive than the deal they are currently on - unless they shop around for a better deal first.

Impact of tariffs ending by month

Month

Average increase (£)

Average increase (%)

Number of tariffs where the supplier’s SVR is more expensive

November

£188.94

20.52%

19

December

£250.92

29.65%

33

January

£219.39

26.19%

16

Winter total

£226.18

26.60%

68



Average increase across all UK regions and across all dual fuel tariffs coming to an end where the standard tariff is more expensive than the expiring deal. 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).

December will see the most tariffs ending, while most people are busy with Christmas and New Year celebrations. December also has the highest average price increase, with bills jumping up by an average of £250.92, which may have some people wishing their energy supplier had put coal in their stocking instead.

While consumers on affected tariffs can expect to see an average price rise of £226.18 (26.6%), depending on their tariff and location, some could see their annual energy bill increase by up to £335.83, unless they shop around and switch.

Extra Energy customers on the supplier's Fresh Fixed Price January 2017v1, Festive Fuel Fixed Price Jan 2017 v1 and Fresh Fixed Price Jan 2017 v2 tariffs, which all expire on 31 January 2017, will see the UK's biggest price jump of £335.83 (42.31%)*.

While the vast majority of tariffs ending will see dramatic price rises, not all tariffs expiring will mean higher bills. In some cases, customers may see their bills stay the same or even fall slightly. However, this just means that they are already paying more than they need to be for their energy and could save as much as £366** by shopping around for a new supplier.

Ben Wilson, spokesperson at Gocompare.com Energy, commented: "Winter can be a really busy period for most of us, making it easy to forget about things like energy bills.

"But winter is typically when we use the most energy, whether that's on heating our homes or to power our Christmas lights, so taking your eye off the ball for a few weeks can really hurt your wallet."

Ben Wilson added: "Winter is also the time of the year when many of us spend the most money, with lots of us splashing out on food and presents, or hitting the pre- and post-Christmas sales for a bargain - leaving many people's finances stretched at the beginning of the New Year.

"That's why it's so important to ensure you're on the best possible deal this winter and not pay the 'inertia tax' on your energy bills. Your supplier will notify you, typically by email or post, that your fixed-term tariff is coming to an end around 42-49 days before it is due to expire.

Once you have this notification you can switch to another deal without incurring an early exit penalty. So if you are on a tariff that's ending soon, keep an eye out for this notice and once you have it make sure you look for and switch to a better deal.

"Comparing the tariffs available and switching to a new deal only takes a few minutes, and people can typically save up to £366 by doing so. So whether your fixed deal is coming to end, or you've been with your provider for as long as you can remember - there are savings out there for the taking, so if your current energy supplier isn't offering the best deal for you, perhaps it's time to give them the sack this winter!"

For more information on your energy bill or how to switch your energy supplier see Gocompare.com's dedicated guide page.

Top 10 cheapest fixed dual fuel energy tariffs

Supplier

Tariff

Average cost

Fixed or variable

Cancellation penalties

Economy Energy

Direct Saver 2017

£822

Fixed

£25 per fuel

Avro Energy

Simple and Frost

£856

Fixed

None

Places for People Energy

Together - December 2017 - fixed 39

£863

Fixed

£30 per fuel

So Energy

So Gecko

£869

Fixed

£5 per fuel

iSupplyEnergy

iFix 21-Month Sep18

£870

Fixed

£30 per fuel

Octopus Energy

Octopus 12M Fixed

£876

Fixed

None

extraenergy

Fresh Fixed Price Dec 2017 v1

£878

Fixed

£30 per fuel

iSupplyEnergy

iFix 12-Month Jan18

£881

Fixed

£30 per fuel

Octopus Energy

Flexible Octopus

£890

Variable

n/a

Npower

Online Price Fix December 2017

£897

Fixed

£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 23/11/2016. Excludes collective tariffs.

-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. Extra Energy customers on the supplier's Fresh Fixed Price January 2017v1, Festive Fuel Fixed Price Jan 2017 v1 and Fresh Fixed Price Jan 2017 v2 tariffs, which all expire on the 31 January 2017 will see a £335.83 (42.31%) price rise when they are moved from their current deal with an annual cost of £793.68 to the supplier's standard variable tariff which has an average annual cost of £1,129.51.

**At least 51% of customers who received a price for switching energy supplier for both gas and electricity with Gocompare.com saved £366 or more (1st April - 30th June 2016)

A full list of all tariffs ending is available on request.