Ten popular fixed energy plans expire on 31st March 2017
Homes on these deals could see bills increase by up to £445 a year if they are rolled onto expensive standard plans
Average hike for customers coming off these fixed deals will be £369 per year, which would have been £282 before the recent supplier price rises
Uswitch.com urges consumers on fixed plans ending this month to switch and avoid being rolled on to a sky-high standard variable tariff.
Households across the UK could see their energy bills rocket by up to £445, as a number of popular fixed deals come to an end this month and price rises dramatically increase the cost of standard variable tariffs (SVTs), according to Uswitch.com, the independent price comparison and switching service.
Ten popular fixed rate deals expire on 31st March, including those from EDF Energy, npower, First Utility and Co-operative Energy, whose recent eye-watering price hikes to their standard variable tariffs are either already in force or land on 1st April.If they don’t switch, customers on these plans may be automatically rolled over to these extortionate SVTs. Before recent price rises, this would have increased their bills by an average of £282 a year; now it will add an average of £369 – a double whammy for consumers’ wallets.
Ofgem’s rules allow people to switch suppliers without paying exit fees as soon as they are told their plan is ending. If consumers on these deals act now, they can avoid being rolled on to a significantly pricier tariff.
Claire Osborne, Uswitch.com energy expert, says: “Customers coming off fixed deals at the end of the month are going to be hit by a double whammy price hike unless they switch now.
“When fixed deals end, customers often get rolled onto their supplier’s standard tariff, which is significantly more expensive and subject to price increases. Recent price hikes from energy suppliers have added fuel to the fire, and will leave consumers with an even heftier bill to settle. Customers coming off npower’s Collective Price Fix March 2017, for example, will pay an extra £445 more a year on its SVT, which would have been £335 before the company’s recent 9.8% price rise.
“Check your bill now to see if you’re on one of these popular plans that are ending. There’s still time to switch and avoid the nasty shock of being hundreds of pounds out of pocket.”
Table 1: Popular fixed energy deals ending in March 2017
| Supplier | Plan | End date | Average price | Rollover plan name | Difference from rollover plan before price rise (SVT) | Difference from rollover plan after price rise (SVT) | ||
|---|---|---|---|---|---|---|---|---|
| Npower | Collective Price Fix March 2017 | 31/03/2017 | £742 | Standard SC | £335 | £445 | ||
| npower | Online Fix March 2017 | 31/03/2017 | £765 | Standard SC | £312 | £422 | ||
| Co-operative Energy | Co-op Online March 2017 | 31/03/2017 | £775 | Green Pioneer – DD | £346 | £404 | ||
| npower | Fixed Energy Online March 2017 | 31/03/2017 | £782 | Standard SC | £295 | £405 | ||
| Co-operative Energy | Co-op Online March 2017 (paper bills) | 31/03/2017 | £805 | Green Pioneer – DD | £316 | £374 | ||
| First Utility | First Fixed March 2017 v4 | 31/03/2017 | £806 | First Variable | £241 | £343 | ||
| npower | Online Price Fix March 2017 | 31/03/2017 | £808 | Standard SC | £269 | £379 | ||
| First Utility | First Fixed March 2017 v3 | 31/03/2017 | £817 | First Variable | £230 | £332 | ||
| First Utility | First Fixed March 2017 v2 | 31/03/2017 | £817 | First Variable | £229 | £331 | ||
| EDF Energy | Blue+Price Promise March 2017 | 31/03/2017 | £824 | Standard (Variable) | £245 | £258 |
Source: Uswitch.com. Correct as of 17 March 2017
Table 2: Energy suppliers’ price rises in 2017 so far
| Supplier | Previous SVT price | New SVT price | Difference | No. of customers affected | Total impact on bills | Comes into effect from: | ||
|---|---|---|---|---|---|---|---|---|
| EDF Energy | £1,069 | £1,082 | £13 | 1,943,277 | £25.3m | 1st March | ||
| Npower | £1,077 | £1,187 | £109 | 1,400,000 | £152.6m | 16th March | ||
| ScottishPower | £1,081 | £1,167 | £86 | 1,100,000 | £94.6m | 31st March | ||
| Co-operative Energy | £1,121 | £1,179 | £58 | 96,158 | £5.6m | 1st April | ||
| First Utility | £1,047 | £1,149 | £102 | 117,000 | £11.9m | 1st April | ||
| E.ON | £1,057 | £1,154 | £97 | 2,500,000 | £242.5m | 26th April | ||
| SSE | £1,069 | £1,142 | £73 | 2,800,000 | £204m | 28th April | ||
| British Gas | £1,044 | £1,044 | – | – | – | Prices frozen until August | ||
| TOTAL: | 9,956,435 | £736.5m |
Source: Uswitch.com. Correct as of 17th March, 2017
All bills paying by direct debit on Ofgem medium consumption.
Find out how you could save over £1,000 a year with Uswitchhere.
FOR MORE INFORMATION
Ailene Barr
Phone: 020 3872 5610
Email: ailene.barr@uswitch.com
Twitter: @uswitchPR
Notes to editors
See Table 1 above
See Table 2 above
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