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End of fixed deals leaves homes facing price hike double whammy

  • Ten popular fixed energy plans expire on 31st March 2017

  • Homes on these deals could see bills increase by up to £445 a year if they are rolled onto expensive standard plans

  • Average hike for customers coming off these fixed deals will be £369 per year, which would have been £282 before the recent supplier price rises

  • Uswitch.com urges consumers on fixed plans ending this month to switch and avoid being rolled on to a sky-high standard variable tariff.

Households across the UK could see their energy bills rocket by up to £445, as a number of popular fixed deals come to an end this month and price rises dramatically increase the cost of standard variable tariffs (SVTs), according to Uswitch.com, the independent price comparison and switching service.

Ten popular fixed rate deals expire on 31st March, including those from EDF Energy, npower, First Utility and Co-operative Energy, whose recent eye-watering price hikes to their standard variable tariffs are either already in force or land on 1st April.If they don’t switch, customers on these plans may be automatically rolled over to these extortionate SVTs.  Before recent price rises, this would have increased their bills by an average of £282 a year; now it will add an average of £369 – a double whammy for consumers’ wallets.

Ofgem’s rules allow people to switch suppliers without paying exit fees as soon as they are told their plan is ending.  If consumers on these deals act now, they can avoid being rolled on to a significantly pricier tariff.

Claire Osborne, Uswitch.com energy expert, says: “Customers coming off fixed deals at the end of the month are going to be hit by a double whammy price hike unless they switch now.

“When fixed deals end, customers often get rolled onto their supplier’s standard tariff, which is significantly more expensive and subject to price increases. Recent price hikes from energy suppliers have added fuel to the fire, and will leave consumers with an even heftier bill to settle. Customers coming off npower’s Collective Price Fix March 2017, for example, will pay an extra £445 more a year on its SVT, which would have been £335 before the company’s recent 9.8% price rise.

“Check your bill now to see if you’re on one of these popular plans that are ending. There’s still time to switch and avoid the nasty shock of being hundreds of pounds out of pocket.”

Table 1: Popular fixed energy deals ending in March 2017

SupplierPlanEnd dateAverage priceRollover plan nameDifference from rollover plan before price rise (SVT)Difference from rollover plan after price rise (SVT)
NpowerCollective Price Fix March 201731/03/2017£742Standard SC£335£445
npowerOnline Fix March 201731/03/2017£765Standard SC£312£422
Co-operative EnergyCo-op Online March 201731/03/2017£775Green Pioneer – DD£346£404
npowerFixed Energy Online March 201731/03/2017£782Standard SC£295£405
Co-operative EnergyCo-op Online March 2017 (paper bills)31/03/2017£805Green Pioneer – DD£316£374
First UtilityFirst Fixed March 2017 v431/03/2017£806First Variable£241£343
npowerOnline Price Fix March 201731/03/2017£808Standard SC£269£379
First UtilityFirst Fixed March 2017 v331/03/2017£817First Variable£230£332
First UtilityFirst Fixed March 2017 v231/03/2017£817First Variable£229£331
EDF EnergyBlue+Price Promise March 201731/03/2017£824Standard (Variable)£245£258

Source: Uswitch.com. Correct as of 17 March 2017

Table 2: Energy suppliers’ price rises in 2017 so far

SupplierPrevious SVT priceNew SVT priceDifferenceNo. of customers affectedTotal impact on billsComes into effect from:
EDF Energy£1,069£1,082£131,943,277£25.3m1st March
Npower£1,077£1,187£1091,400,000£152.6m16th March
ScottishPower£1,081£1,167£861,100,000£94.6m31st March
Co-operative Energy£1,121£1,179£5896,158£5.6m1st April
First Utility£1,047£1,149£102117,000£11.9m1st April
E.ON£1,057£1,154£972,500,000£242.5m26th April
SSE£1,069£1,142£732,800,000£204m28th April
British Gas£1,044£1,044Prices frozen until August
TOTAL:9,956,435£736.5m

Source: Uswitch.com. Correct as of 17th March, 2017

All bills paying by direct debit on Ofgem medium consumption.

Find out how you could save over £1,000 a year with Uswitchhere.

FOR MORE INFORMATION

Ailene Barr

Phone: 020 3872 5610

Email: ailene.barr@uswitch.com

Twitter: @uswitchPR

Notes to editors

  1. See Table 1 above

  2. See Table 2 above

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