Are you on a fixed rate energy tariff? If so – you need to read on!
26 fixed energy tariffs are set to end this month, meaning your bills could soar up to a third.
If people have rolled their fixed contracts on with their current provider’s standard tariff – 22 of the 26 deals – will find people at risk of paying much more for their energy then previously.
According to a statement from GoCompare, the tariffs in question are operated through major brands from Sainsbury’s Energy, Npower, M&S Energy, First Utility, Co-operative Energy right through to Extra Energy and Scottish Power. If you are with one of these suppliers and don’t arrange an alternative, it will be assumed that you want to be rolled onto a standard tariff. For the majority of cases, this will mean a soar in bills. Especially so for Extra Energy customers, whose bills are predicted to rise by 30% on the Jan 2015 v10 tariff. This rise is the equivalent to another £258 per year.
Fortunately, this does not include everyone on a fixed deal. Many price drops have been implemented since these deals original began meaning that people on four different deals will pay less. This includes: M&S Energy Fix & More Jan 15 paperless and paper billing, First Utility’s iSave fixed v10 January tariff and Scottish Powers Fixed Price Energy Feb 16 Online.
Fixed tariff deals are much cheaper than any other around, however you must be wary of when these deals come to an end, more often than not, bills can be hiked up without notice. Shopping around to find the best deal could be essential for you this month, in order to keep your energy bill as small as possible.
At Saving Energy we are passionate about renewable energy and installing energy efficiency measures – which could see your energy bills dramatically reduce and futureproofed – whilst allowing you to live in a more comfortable and efficient home.
If you require any advice on how we could help you to make improvements to your home – whilst also reducing your energy bills – please get in touch with Saving Energy today on 0800 954 9689.