Households could be hit with average annual energy rises of £256.32* as several fixed dual fuel energy tariffs come to an end on 28th February.
- 27 fixed dual fuel tariffs expire on Tuesday 28th February (25 of which will see bills rise if customers don’t switch)
- Households face an average rise of £256.32* (31.4%) when they are rolled onto their supplier’s standard variable tariff
- Suppliers with tariffs ending include: Extra Energy, Npower, EDF and British Gas
Households could be hit with average annual energy rises of £256.32* as several fixed dual fuel energy tariffs come to an end on 28th February. Research from Gocompare.com Energy has found that of the 27 dual fuel tariffs expiring this month, 25 will see price increases if customers allow themselves to be automatically rolled onto their supplier’s standard variable tariff.
Extra Energy customers are hit the hardest with some of the highest average annual price rises across all of their tariffs. In particular, customers on their Fresh Fixed Price Feb 2017 v4 tariff will see their average annual bill increase by an astounding £361.20 (47.01%). Those in the Scottish Hydro region will see the biggest surge in their bills with a 53.63% (£406.65) increase.
Impact of tariffs ending on 28 February 2017 (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 ending||End date||Dual fuel?||Annual cost||Annual cost of standard tariff||Difference (£ and %)|
|Better Energy||Online Fixed Feb17|| |
28th February 2017
|Better Energy||Postal Fixed Feb17||28th February 2017||No||£382.46||£497.18||£114.72 (29.99%)|
|British Gas||Collective Fix February 2017||28th February 2017||Yes||£744.44||£1,044.11||£299.67 (40.25%)|
|Co-operative||Co-op Online February 2017||28th February 2017||Yes||£850.19||£1,089.00||£238.82 (28.09%)|
|EDF Energy||Blue+ Fixed Price February 2017||28th February 2017||Yes||£953.33||£1,069.31||£115.97 (12.17%)|
|EDF Energy||Blue+ Price Promise February 2017||28th February 2017||Yes||£840.87||£1,069.31||£228.43 (27.17%)|
|Extra Energy||Bright Fixed Price 1 Feb 2017 v1||28th February 2017||Yes||£800.31||£1,129.51||£329.20 (41.13%)|
|Extra Energy||Clear Fixed Price Feb 2017 v1||28th February 2017||Yes||£798.55||£1,129.51||£330.96 (41.45%)|
|Extra Energy||Fresh Fixed Price Feb 2017 v1||28th February 2017||Yes||£791.03||£1,129.51||£338.48 (42.79%)|
|Extra Energy||Fresh Fixed Price Feb 2017 v2||28th February 2017||Yes||£781.61||£1,129.51||£347.90 (44.51%)|
|Extra Energy||Bright Fixed Price Feb 2017 v2||28th February 2017||Yes||£804.57||£1,129.51||£324.94 (40.39%)|
|Extra Energy||Clear Fixed Price Feb 2017 v2||28th February 2017||Yes||£781.60||£1,129.51||£347.91 (44.51%)|
|Extra Energy||Fresh Fixed Price Feb 2017 v3||28th February 2017||Yes||£772.46||£1,129.51||£357.05 (46.22%)|
|Extra Energy||Clear Fixed Price Feb 2017 v3||28th February 2017||Yes||£772.46||£1,129.51||£357.05 (46.22%)|
|Extra Energy||Fresh Fixed Price Feb 2017 v4||28th February 2017||Yes||£768.31||£1,129.51||£361.20 (47.01%)|
|First:Utility||iSave Fixed February 2017||28th February 2017||Yes||£829.48||£1,046.70||£217.23 (26.19%)|
|First:Utility||iSave Fixed February 2017 v2||28th February 2017||Yes||£824.48||£1,046.70||£222.22 (26.95%)|
|First:Utility||Quidco Fixed February 2017||28th February 2017||Yes||£827.34||£1,046.70||£219.36 (26.51%)|
|GnERY||Fixed February 2017 v1||28th February 2017||Yes||£802.06||£1,105.66||£303.60 (37.85%)|
|Npower||Price Fix February 2017||28th February 2017||Yes||£1,028.41||£1,077.25||£48.84 (4.75%)|
|Npower||Online Price Fix February 2017||28th February 2017||Yes||£805.02||£1,077.25||£272.23 (33.82%)|
|Places for People Energy||Together - February 2017 - fixed 29 Paperless||28th February 2017||Yes||£794.07||£1,018.00||£223.94 (28.20%)|
|Places for People Energy||Together - February 2017 - fixed 29 Paper Billing||28th February 2017||Yes||£809.07||£1,058.00||£248.94 (30.77%)|
|Places for People Energy||Together - February 2017 - fixed 30 Paperless||28th February 2017||Yes||£793.74||£891.08||£97.33 (12.26%)|
|Places for People Energy||Together - February 2017 - fixed 30 Paper Billing||28th February 2017||Yes||£833.74||£931.08||£97.33 (11.67%)|
|Places for People Energy||Together - February 2017 - fixed 31 Paperless||28th February 2017||Yes||£778.27||£1,018.00||£239.73 (30.80%)|
|Places for People Energy||Together - February 2017 - fixed 31 Paper Billing||28th February 2017||Yes||£818.27||£1,058.00||£239.73 (29.30%)|
While the majority of the tariffs ending this month will see dramatic price rises, not all expiring tariffs will result in price hikes. Those on Npower’s Pre Pay Fix February 2017 and SSE’sFix & Shop Feb 17 tariffs will see their bills fall on average by £53.76**. However, this could mean that they are already paying more than necessary for their energy and could save as much as £305*** by shopping around for a new supplier.
Ben Wilson, Gocompare.com Energy spokesperson commented: “The switching message is beginning to sink in, with the number of Brits switching at least one of the top 10 financial products in the last 12 months up from 53% to 58%****.
“The price hikes in the energy markets, like the recent Npower and Scottish Power price rises, is a big driver in this switching culture. Consumers are savvy, no longer fooled by the ploys of the energy companies and know that when the price rises it’s time to switch.
“However, the research also shows that almost a quarter (23%) of the UK population have never switched any of the main financial products**** and are therefore missing out on potentially great savings.
“Comparing tariffs and switching to a new deal is easy – all you need is your bill and a comparison site and you could save over £300*** doing so. So whether your fixed deal is coming to end, or you're fed up of being stung by your energy provider – it could be worth taking a couple of minutes out of your day and find out how much you could save.”
Top 10 cheapest fixed dual fuel energy tariffs
|Supplier||Tariff||Average Cost||Fixed or variable||Cancellation penalties|
|Iresa Limited||IRESA Flex4 12month Fixed Direct Debit||£833.72||Fixed||None|
|Future Energy||Future Variable Tracker||£860.69||Variable||None|
|White Rose Energy||White Rose Energy Fluid||£864.15||Variable||None|
|Tonik||Tonik Positive Energy v2||£879.70||Fixed||None|
|Toto Energy||Go with the flow – Smart direct debit||£880.16||Variable||None|
|Toto Energy||Go with the flow - Direct Debit||£884.81||Variable||None|
|Avro Energy||Simple and Switch||£887.44||Fixed||None|
|Economy Energy||Direct Saver 2017 (v2)||£889.07||Fixed||£25|
|iSupply||iFix Direct 12-Month Feb18||£889.91||Fixed||£30|
|So Energy||So Hedgehog||£890.82||Fixed||£5|
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 14/02/2017. Excludes collective tariffs.
For more information on switching, read Gocompare.com’s guides for more information on switching energy supplier.
- ENDS -
Notes to editors:
*Average increase across all UK regions and across all dual fuel tariffs coming to an end on 28th February 2017 where the standard tariff is more expensive than the fixed deal is £256.32 (31.4%)
**Customers on nPower’s Pre Pay Fix February 2017 and rolled onto the Standard tariff save on average £76.34 on their bill. Customers on SSE’s Fix & Shop Feb 17 and rolled onto the Standard tariff save on average £31.17. The average of these 2 savings is £53.76.
***Based on Gocompare.com data
At least 51% of customers who provided their energy usage and received a price for switching energy supplier for both gas and electricity with Gocompare.com saved £305 or more (1st July - 30th September 2016)
****On 6 January 2017, Bilendi conducted an online survey among 2001 randomly selected British adults who are Maximiles UK panelists. The margin of error-which measures sampling variability-is +/- 2.2%. The results have been statistically weighted according to the most current education, age, gender and regional data to ensure samples representative of the entire adult population of United Kingdom. Discrepancies in or between totals are due to rounding. The 2016 switching survey was also an online survey conducted by Bilendi among 2001 randomly selected British adults who are Maximiles UK panelists, it was conducted on 5 January 2016.