Energy tariff warning: eight fixed tariffs ending on 30 September

On Tuesday 30 September eight fixed energy deals will come to an end, bringing in an average annual bill increase of 11% – or £108 – for those consumers who have not switched to a better deal.

Suppliers with tariffs expiring at the end of September are: EDF Energy, First Utility, Scottish Power, M&S Energy, and iSupplyEnergy.

First Utility customers in north-west England, who are currently on the iSave Fixed v7 September 2014 dual fuel tariff, will see the biggest average bill increase of all, at £237.65, or 21.9%. The biggest increase for a ‘big six’ customer will be felt by those living in south-east England who are on Scottish Power’s Online Energy Saver 23 tariff, with an average price hike of £164.93.

Some households in northern Scotland, who are customers of First Utility, could actually be in for a price reduction when their fixed deal ends. Those on the iSave Fixed v7 September 2014 dual fuel tariff could see a £6.57 reduction in their annual bills when they roll onto their provider’s standard tariff (called iSave Everyday). And those in the same area currently on First Utility’s iSave Fixed v8 September 2014 tariff could save an average of £32.17 a year on their dual fuel bills. However, this doesn’t mean that it’s a good idea for these customers to simply accept First Utility’s standard tariff, as they may be able to save even more by shopping around and switching.

Jeremy Cryer, energy spokesperson at Gocompare.com, said: “With four fixed tariffs from ‘big six’ providers among the eight due to end this month, many households could find that their annual energy bills are set to increase if they don’t take action and look for a better deal.

“Ofgem, the energy regulator, has introduced steps to make it easier for people to switch providers, including a rule that, once you receive notification from your supplier of your fixed tariff coming to an end – usually 42 to 49 days before it’s due to expire – you can switch without any exit fees being applied. And that’s exactly when you should start shopping around, as it can take as much as four to six weeks to transfer to your new supplier.

“Not taking action and just rolling onto your supplier’s standard tariff is the very worst option, and even if you think that you will be saving money by doing so, it’s likely to be a tiny amount and unlikely to be anywhere near as much as you could save if you shopped around, comparing lots of different tariffs from multiple energy companies.

“If you never compare your energy tariffs against the others available then you’re likely to be paying more than you need to for your gas and electricity, which will only stand to benefit the suppliers. There are some good fixed deals available, with a couple even coming with annual dual fuel bills of under £1,000, on average, so it’s well worth taking the time to see if there’s a better deal out there for you.”