Unhappy New Year as energy tariffs ending this month could see bills increase by as much as £145

Many householders could be starting the new year with a bigger energy bill as 13 fixed-term energy tariffs – including 10 from four of the UK’s ‘big six’ suppliers – will expire on New Year’s Eve, resulting in average bill hikes of almost 8% for those who haven’t yet switched to a better deal.

EDF Energy, M&S Energy, Npower, SSE, ScottishPower and iSupplyEnergy have tariffs that will end on 31 December. Customers living in the Eastern distribution area – which includes East Anglia and Greater London – and on the ScottishPower’s Online Fixed Price Energy December 2014 tariff, are due to receive the biggest bill increase of £144.93 when they are moved onto the energy giant’s £1,177.32 standard tariff.

Jeremy Cryer, energy spokesperson at Gocompare.com, said: “Despite a mild autumn, temperatures have really plummeted this week, and with colder weather forecast British households will be using more energy to heat their homes. As such, it’s important that people make sure they are on the right gas and electricity tariffs so they can help reduce their big winter bills.

“This is particularly true for those whose fixed tariffs are coming to an end this month, and who have yet to shop around and switch. They must take action now so that they can benefit from cheaper energy as soon as possible.

“There are lots of good deals to be had right now, and they are certainly a far better option than any supplier’s standard tariff. In fact, there are eight sub-£1,000 a year dual fuel tariffs available at the moment.

“If you are reluctant to switch to another fixed deal in case a better one comes along in a few weeks’ time, bear in mind that some suppliers don’t charge an early exit fee, while others charge very little. As such, signing up with these providers is less risky should you wish to switch away again part-way through your contract. That said, others charge as much as £30 per fuel for early exits, so any savings have to be quite substantial to justify taking a hit of up to £60 to leave before the end date.

“This is why it’s so important to shop around carefully, and check that you’re happy with everything – the cost, any exit fees, the account management options, and payment type – before you sign up. Comparison websites make this task easy, saving you lots of time in the hunt for a good energy deal.”