Household energy bills to increase by 15.22% on average when 12 fixed tariffs end on 31 October*
- 12 fixed dual fuel tariffs expire on Saturday 31 October.
- Households face an average £147.95 (15.22%) rise when they are rolled onto their supplier’s variable tariff.
- Energy suppliers Npower, Sainsbury’s Energy, Scottish Power, First:Utility, Extra Energy and Co-operative Energy have tariffs expiring.
Extra Energy customers will see the largest average rise of £186.09 (19.72%).**
Big Energy Saving Week starts today (Monday 26 October), but some households could see their energy bills rise by as much as £147.95 (15.22%) this Saturday as 12 fixed dual fuel deals come to an end, according to research from Gocompare.com.
Npower, Co-operative Energy, Scottish Power, Sainsbury’s Energy, Extra Energy and First:Utility all have dual fuel tariffs that are due to expire on Saturday 31 October, at which point customers who haven’t shopped around for a better deal will be rolled onto their supplier’s standard variable tariff. On average, these tariffs are £147.95 (15.22%) a year more expensive than the deals customers are currently on.
Customers currently on Extra Energy’s Fresh Fixed Price Oct 2015 v2 and ValuePlus Fixed Price Oct 2015 v1 tariffswill see the biggest average increase at the end of the month, with an annual rise of £186.08 (19.72%) if they allow themselves to be rolled onto the supplier’s Variable Price v1 standardtariff.
Impact of tariffs coming to an end on Saturday 31 October (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):
Tariff coming to an end
Annual cost of standard tariff
(£ and %)
Fair & Square September 2015
SaverPlus Fixed Price Oct 2015 v1
ValuePlus Fixed Price Oct 2015 v1
Fresh Fixed Price Oct 2015 v1
Clear Fixed Price Oct 2015 v1
Bright Fixed Price Oct 2015 v1
Bright Fixed Price Oct 2015 v2
Fresh Fixed Price October 2015 v2
iSave Fixed v30 October 2015
iFix (pre 19th September 2015)
Online Price Fix October 2015
Fixed Price October 2015
Online Fixed Price Energy October 2015
Tom Lewis, energy spokesperson at Gocompare.com, said: “£147 is a significant price rise at any time of the year, let alone when colder nights are setting in and thermostat temperatures are beginning to creep up.
“By being rolled onto their suppliers’ standard variable tariffs, which don’t represent value for money, customers are effectively welcoming a price rise that they should really be fighting against.
“The best way to ensure that you’re not paying over the odds for your energy is to get online and shop around for the best possible deal for you. It only takes a few minutes to find out if you could save money on your gas and electricity, and with substantial savings to be had it could be time well spent.”
Top ten cheapest dual fuel tariffs
Early exit fees
GB Energy Supply
Premium Energy Saver
Fresh Fixed Price Dec 2016 v5
iSave Fixed December 2016 v4
Clear Fixed Price Dec 2016 v3
Fixed November 2016 v1
You First December 2016
Better Energy Fixed (All Online)
Bright Fixed Price Dec 2016 v3
Green Star Energy
Rate Saver 12 Month Fixed 2510
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 26/10/2015. Excludes collective tariffs
Gocompare.com has created a guide on switchig energy suppliers.
Notes to editors:
*Average increase across all UK regions and across all tariffs coming to an end on 31 October 2015 where the standard tariff is more expensive than the fixed deal is £147.95 or (15.22%)
** 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 ValuePlus Fixed Price Oct 2015 v1 and the Fresh Fixed Price Oct 2015 v2 will see a 19.72% rise when they are moved from their current tariffs, which have an annual average cost of £943.43 to Extra Energy’s standard variable tariff which has an average cost of £1,129.51.