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Brits prepare for a freezing February with 12 fixed dual fuel deals coming to an end, yielding energy price rises of 6.8%

09 February 2015

On Saturday 28th February, 12 fixed dual fuel energy tariffs are due to expire - including those from four of the big six energy giants (British Gas, EDF, Npower and Scottish Power). In 11 out of the 12 cases this could result in customers facing an average annual bill increase of 6.7% - or £68.71 - unless the householders have taken action and shopped around for a new energy tariff.*

Suppliers with dual fuel deals expiring at the end of the month are: British Gas, Scottish Power, Npower, Sainsbury's Energy and M&S Energy. Scottish Power alone has five deals ending in February.

Once again, those who live in the north of England are due to be hit the hardest, with households in Yorkshire who are on Npower's Online Price Fix February 2015, expected to see largest average bill increase of £117.34, an eye watering rise of 11.15%. 

Those on the British Gas Fix & Fall February 2015 tariff will actually see the cost of their energy drop by 5.7%. This is because the tariff is actually more expensive than British Gas's new standard variable tariff which comes into force on the 27th of February. Customers who don't elect to move to a different tariff will automatically be moved onto the standard tariff when their fixed deal expires. However, at an average annual cost of £1,156, this is still £243 a year more expensive than the cheapest fixed deal on the market which is Extra Energy's Fresh Fixed Price February 2016 v1 and has an average annual cost of £913. This demonstrates the importance of shopping around and switching if necessary to ensure households aren't paying over the odds for their energy.

In addition to the 12 expiring dual fuel deals, iSupply Energy's iFix electricity only tariff also ends on February 28th. On average, households on the tariff could see a 12.21% rise in energy bills, an equivalent of £55.49 if they are rolled over onto the supplier's standard variable tariff.

Impact of tariffs coming to an end on Saturday 28 February 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):

Supplier

Tariff coming to an end

Dual fuel?

Annual

cost

Annual cost of standard tariff

Difference

(£ and %)

British Gas

Fixed Price February 2015

Yes

£1,091.87

£1,156

+£64.13

(+5.87%)

British Gas

Fixed & Fall February 2015

Yes

£1,192.97

£1,156

-£36.97

(-5.76%)

EDF Energy

Blue +Price Promise February 2015

Yes

£1,071.95

£1,155

+£83.05

(+7.55%)

EDF Energy

Blue +Price Promise February 2015 Gas Carbon Offset

Yes

£1,091.37

£1,155

+63.63

(+5.83%)

iSupplyEnergy

iFix

No

£454.55

£510.04

+£55.49

(+12.21%)

M&S Energy

Capped Price

Yes

£1,111.73

£1,186.27

+£74.54

(+6.70%)

Npower

Online Price Fix February 2015

Yes

£1,051.66

£1,169

+£117.34

(+11.15%)

Sainsbury’s Energy

Fixed Price February 2015

Yes

£1,091.87

£1,192.97

+£101.10

(+8.47%)

Scottish Power

Fixed Price Energy March 2015 v2

Yes

£1,152

£1,167

+£15

(+1.30%)

Scottish Power

Fixed Price Energy March 2015 v2 Online

Yes

£1,141.51

£1,167

+£25.49

(+2.23%)

Scottish Power

Online Fixed Price Energy February 2014

Yes

£1,109.09

£1,167

+£57.91

(+5.22%)

Scottish Power

Online Fixed Price Energy February 2014 v2

Yes

£1,086.35

£1,167

+£80.65

(+7.42%)

Scottish Power

Online Fixed Price Energy February 2014 v3

Yes

£1,080.85

£1,167

+£86.15

(+7.97%)



Jeremy Cryer, energy spokesperson at Gocompare.com, said: "Out of the twelve dual fuel tariffs due to expire in February, ten belong to 'big six' suppliers. This means it's likely a large number of people could be facing an average bill hike of nearly £70, and is why it's really important for people on these tariffs to shop around for a better deal.

"Though many fixed tariffs have early exit fees, Ofgem has ensured that customers on soon-to-expire fixed tariffs can shop around without being penalised. Under these rules, once a customer receives notification from their supplier that their fixed tariff is coming to an end - typically 42 to 49 days before it's due to finish - they are able to switch without being charged an exit fee. Though nearly 50 days may seem like a long notice period, it can take several weeks to complete the switch to a new supplier, making it vital for households act quickly to ensure they beat the price hikes

"Standard variable tariffs are usually the most expensive tariffs offered by suppliers and as fixed tariffs typically roll over to the supplier's standard tariffs when they expire. It's important to be an active energy shopper to get the best value for money. There are some attractive fixed options available at the moment with average annual bills as low as £913 a year. For those customers with tariffs about to expire, now is the ideal time to compare tariffs and find the most competitive deal."

Top 10 cheapest dual fuel tariffs

Supplier

Tariff

Annual cost

Early exit fees

extraenergy

Fresh Fixed Price February 2016 v1

£913

£25 per fuel

first:utility

iSave Fixed v44 March 2016

£919

£30 per fuel

extraenergy

Bright Fixed Price Jan 2016 v9

£919

£25 per fuel

extraenergy

Clear Fixed Price March 2016 v5

£919

£25 per fuel

Ovo

Better Energy Fixed (Online)

£920

£30 per fuel

e.on

Fixed 1 Year v15 Paperless Billing

£920

£5 per fuel

Sainsbury's Energy

Fixed Price February 2016

£922

£30 per fuel

npower

Price Fix May 2016

£927

None

ScottishPower

Online Fixed Price Energy February 2016

£930

None

Green Star Energy

Rate Saver 12 Month Fixed 1501 Paperless

£932

£30




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 09/02/2015.

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