Are you on npower’s Go Fix 8? If so, your average bill, set at around £1,087 a year, has been saving you £265 a year compared to other npower customers, but that’s about to change.
- Bills could jump by £160 when the npower Go Fix 8 plan ends this coming Sunday (3th February) and customers are automatically rolled over onto the Energy Online August 2014 plan, costing £1,184 a year
- Launched in September 2011, customers have saved £261 compared to those on the average big six standard plan
- Energy bills have risen from £1,250 to £1,352 a year since Go Fix 8 was launched
The plan has also fared well against the average price for a big six standard plans with an average £261 saving over the 16 month contract. However, the protection against today’s energy costs ends this Sunday and the plan customers could be rolled on to could increase bills by £160 to £1,247 a year.
If customers stay loyal to npower, they could switch to the supplier’s cheapest deal today – its Energy Online August 2014 plan. Go Fix 8 customers who switch to this plan would see an annual increase of £97 a year.
However, by moving to SSE’s Discount Energy Bonus April 2015 with paperless billing with average costs of £1,134 a year, customers will only see their bills increase by £47 a year.
Matthew Whitaker, energy expert at uSwitch.com, says: “Come Sunday, npower Go Fix 8 customers will discover that all good things really do come to an end when their protection from price hikes draws to a close.
“Since its launch, customers on this fixed price plan have witnessed price rises come and go without seeing any increases on their own plan.
“However, if they don’t take action now these increases could catch up with them, with £160 potentially added to their bills.”
“This blow could be softened if Go Fix 8 customers shop around for the best available deal today. But, having enjoyed the protection of a fixed price plan for the last 16 months these customers might want to fix their prices again.
“The cheapest fixed price deal on the market today, First Utility’s iSave Fixed V6 April 2014, costs £1,170 a year. This would mean an £83 price hike, but this is less than if they stayed on npower’s rollover plan, which would see their bills shoot up by £160.
“Go Fix 8 has really worked well for npower’s customers. But the important lesson to learn is that good deals come and go which is why it pays to remain engaged with the energy market and to take advantage of the savings on offer.”