Several fixed-rate energy tariffs ending in September

Consumers need to be aware that eight fuel suppliers have their fixed rate deals ending in September, so they need to take some type of action or see a big increase in their monthly utility bills. While the exact increase for each household will vary based on usage and the company they use, on average those families that do not change to a new deal will see their annual bills increase on average £238, and this can be a 10 to 15 percent increase.

Last autumn there were many people, some studies show millions of households, that switched and signed up for one of these deals when the suppliers said price increase would be occurring if people did not. Now these tariffs are ending over the next few months, so families need to make a change now, before they facing increases.

The fuel suppliers that have their fixed-rate tariffs ending now include the following. The suppliers are M&S Energy, EDF Energy, Scottish Power, iSupply-Energy and First Utility, and the plans end on September 30. It also takes several days or even a couple weeksto switch to a new deal, so consumers need to start that process now in order to ensure their costs do not increase.

• Marks & Spencer Energy’s Fix & Save tariff – There are about 167,000 people that are currently saving money from this tariff. If they do not change to a new deal by September 30, then their fuel bills will increase by over £200.
• First Utility’s iSave – There are about 30,000 customers on this deal, and if they do not change then the family will see an increase of over 20 percent per year.
• Scottish Power’s Online Energy Saver – Under 100,000 households on this energy deal. While Scottish Power has different options for households, if they do not change in time will have an increase of £165 on their energy bills.

Customers off all fuel suppliers and gas companies need to look into their options, as these fixed-rate energy tariffs are being ended across the entire UK. Some will end on September 30, as noted above, and others will end over the next few months. No matter who the supplier is, if people do not change before these expiry dates they will face an increase in their average bills.

Some deals may require exit fees, such as Extra Energy Value Plus Fixed which has a fee of £25, but it is still better to pay these costs to get the long term savings from a new deal. As the amount of those fees will be much less than the increase in annual bills if a change is not made. The big six fuel suppliers have passed some reductions on households as gas costs have come down, but consumers can still shop for better deals.

How to find a new energy deal

Households have a few different options. They can Consumers Advice at 03454 040506, or drop in at their local office. Another organisation which may provide free advice on this process is Step Change, or people can go directly to the fuel suppliers website to review their deals. Or find more information on gas and electricty bill assistance.

As you are shopping, be aware of scams as it can be confusing to find a deal as there are many offers out there, so rules have been created and continue to be put into place by Ofgem, which is the nation’s regulator. If consumers feel like they are being scammed or not given the information they need, then they can all Consumer Advice at 03454 040506 or to file a complaint, call Ombudsman Services:Energy at 0330 440 1624.