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Energy bills could top £1,400 next year

Could prices rocket?

Energy bills could be on their way up again.

Energy bills could go up by £120 to more than £1,400 a year after the latest round of price rises.

 The warning from Energyhelpline comes following SSE’s – formerly Scottish and Southern Energy and the UK’s second-largest supplier – decision to put its prices up 9% from the 15th of October.

Since then a number of the cheapest plans on the market – including EDF Energy’s Blue + Price Promise and ScottishPower’s Online Fixed Price Energy January 2014 – have been withdrawn following heightened demand.

Reflecting on the recent changes Mark Todd, director of Energyhelpline said: “We predict that by the all the major suppliers will follow SSE’s lead and announce price increases of at least 9pc.

Now really is the last chance saloon for consumers to win the battle of the bills before more suppliers pull the better tariffs and prepare for January price rises.”

Energy tariffs timeline

22/08/12 SSE Price rise – SSE announce a 9% price rise to start on the 15th of October 2012

30/08/12 EDF Energy pulls tariff – EDF pulls the then cheapest plan on the market, the Blue + Price Promise

10/09/12  First Utility pulls tariff – First Utility follows suit, reacting to growing demand and pulls the then cheapest plan on the market, the iSave Fixed V3

11/09/12 ScottishPower pulls tariff – ScottishPower is next, pulling Online Fixed Price Energy January 2014

11/09/12 OVO now the cheapest fixed – OVO Energy’s New Energy Fixed now the cheapest plan. The plan is £48 a year on average more expensive than EDF Energy’s Blue Price Promise Plan but with £60 exit penalities. The plan is fixed for one year from the start date.

Gas and electricity prices since 2004

This handy infographic shows a quick and easy visual summary of how energy price changes affect your bills.

Infographic

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Learn more:

What is a fixed price energy tariff?

Who is the cheapest energy supplier?

See if you’re overpaying for your energy

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