Time To Check Your Electricity Supplier Charges
2nd October 2014
Trick No Treat As 31 October Brings Energy Bill Hikes Of Up To £205.
Customers on the 12 fixed tariffs that are due to end on Halloween could see bills rise by 10% on average
On Friday 31 October, 12 fixed energy deals will come to an end, with eight from just one supplier - ScottishPower - due to expire. This could result in an average annual bill increase of 10% - or £104 – for consumers who haven't taken action and shopped around for a new energy tariff.
*Suppliers with tariffs expiring at the end of the month are: British Gas, Scottish Power, Npower, Sainsbury's Energy and iSupplyEnergy.
Those who are currently on Npower's Online Price Fix October 2014, and live in Yorkshire, could see the largest average bill increase of £205.01, or 20.67%.
Some households in southern Scotland, who are customers of ScottishPower and on the supplier's Platinum Fixed Energy November 2014 NSC (No Standing Charge) tariff, could actually see their annual bill decrease by £8.97 when their fixed deal ends. However, across the UK, consumers on this tariff will still be in for an average increase of £20.07, so no-one should simply allow themselves to be rolled onto ScottishPower's standard tariff, as they may be able to save more by shopping around and switching.
Jeremy Cryer, energy spokesperson at Gocompare.com, said: "Ten of the dozen tariffs that are due to come to an end on 31 October come from 'big six' suppliers, so it's fair to assume that many households could be affected. And with average bill hikes of well above £100 imminent, it's time for people on these tariffs to shop around for a better deal, if they haven't done so already.
"With summer behind us and darker, colder months looming, we're entering into the peak energy use time of year, so it's important that householders review their tariffs and compare the other deals available to ensure they're on a competitive tariff that's suitable for their needs.
"While many fixed tariffs have early exit fees, which can be as high as £30 per fuel, Ofgem has made sure that customers on soon-to-expire fixed tariffs can shop around without being penalised. Under these rules, once you receive notification from your supplier of your fixed tariff coming to an end – typically 42 to 49 days before it's due to finish – you can switch without being charged an exit fee. That may seem like a long notice period, but it can take that long to complete the switch to a new supplier, so acting quickly will help ensure you don't pay more than you need to for longer than is necessary.
“Inaction can be expensive as energy suppliers' standard tariffs are often the worst option if value for money is what you're after. And with some good fixed options available at the moment that can provide surety when it comes to prices for a set period of time, now's a good time to shop around, compare tariffs and switch to a better deal."
For more information on switching energy supplier, read Gocompare.com's guides, here: