Energy price shock for fixed tariff customers Energy bills could rocket when fixed deals end
18 February 2010
Thousands of energy customers could face a sharp increase in their energy bills when their fixed-price energy tariffs come to an end in March 2010.
Six fixed-price energy tariffs are due to end in March, and most customers will then be moved onto a standard energy tariff. These gas and electricity tariffs are likely to cost more than their expired fixed deal and are typically much more expensive than the cheapest deals available.
Consumers may find themselves paying up to £258 more per year for their energy once their fixed deal ends, unless they take action and switch to a better deal.
Fixed-price energy tariffs
The six fixed-price tariffs ending next month are British Gas’ Price Guarantee 2010, EDF’s Annual Fix 2, Scottish Power’s Capped Price Energy and three Eon tariffs.
Customers on these plans will pay an average £139 more when they move to new standard rates, but customers on Eon’s capped plan are in for a bigger shock.
A medium energy user on Eon’s capped plan could see their energy bill jump from £974 to £1,232 when their deal ends, according to uSwitch.
Read our guide to cutting energy costs for top tips on reducing your energy bills. The Which? Switch can show you how your energy supplier has been rated for customer satisfaction and value for money.
Cut your energy bills
Head of Which? Switch Alison Morrison advises: ‘If you’re coming to the end of a fixed-rate deal and you don’t want your energy bills to increase, you need to take action now.
‘The cheapest energy tariffs are usually online deals, so if you’re willing to manage your bills online and pay by direct debit, you could shave hundreds of pounds off your bill by switching to one of these.’
Lower your gas and electricity bills
You can compare energy prices and switch to a new gas and electricity supplier on Which? Switch. People who switched with us between 1 October and 31 December 2013 are predicted to save an average of £234 a year on their bills.
Which? RSS and Twitter news feeds
For daily consumer news, subscribe to the Which? consumer news RSS feed. If you have an older web browser you may need to copy and paste http://www.which.co.uk/feeds/news.xml into your newsreader.
Follow @WhichNews on Twitter for the latest news, or @WhichAction to see how we're campaigning for consumers.