M&S Energy bill payers face price hike unless they switch

Commenting on the M&S Fix & Save September 2014 tariff expiring tomorrow, Stephen Murray, energy expert at MoneySuperMarket said: “In August last year one of the cheapest tariffs available was M&S Energy Fix & Save September 2014. Savvy switchers who snapped up the deal, but haven’t arranged a new one, now face a massive £205 a year price shock when the deal ends tomorrow and reverts to the supplier’s standard tariff.

“Given the switching process still takes over six weeks to complete, monthly direct debit users who haven’t already switched will pay £141.27 over the time it takes to switch compared to the £114.06 they would have paid on the current best tariff over the same period – a difference of £27.21.

“The current cheapest tariff available is Extra Energy Fresh Fixed Price November 2015 v1 at £988.48 a year. However, this does come with an exit fee of £25 per fuel if you switch to a cheaper tariff before the end date. Households would have more freedom to switch if they choose a tariff with no tie in fee such as EDF Blue+ Price Promise March 2016 which has an average bill of £1,038,89.”