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Fix your energy tariff before winter price hikes

Fix your energy tariff before winter price hikes

Category: Gas and electricity

Updated: 09/09/2013
First Published: 09/09/2013

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

After a long, hot summer the last concern on consumers' minds will be paying for gas and electricity bills in the cold months ahead, but, with prices expected to rise again, now might be the perfect time to fix your bills.

The comparison site Energyhelpline predicts that in the next few months the Big Six energy providers (British Gas, EDF Energy, E.ON, npower, Scottish Power and SSE) will have announced price increases of between five and ten percent.

This would push the average consumer's annual energy bill up from £1,420 to £1,560 – a £140 increase per year.

Meanwhile, research reveals that 86% of the 2,897 consumers who switched via energyhelpline's service between the 1st and 5th of September opted for a fixed rate tariff in order to protect themselves from future price hikes.

In August, switching levels increased by 36% from the previous month.

"Most households, over 20 million in fact, are not on a fixed rate tariff and are likely to face a nasty shock come winter if they choose not to act," said Mark Todd, director of energyhelpline.

"Typical energy prices will probably have hit new record highs of over £1,500 a year by the end of the winter."

Recently, a number of competitive fixed price tariffs have been launched, but consumers have been warned that these deals might not be around for too much longer.

Below is a list of the top 10 fixed price energy tariffs currently available.

Top 10 fixed energy tariffs

Supplier

Tariff

Average Cost

Saving vs non switcher's typical bill*

Fixed until

M&S Energy

Fix & Save

£1,139

£281

Sep 30, 2014

npower

Online Price Fix October 2014

£1,181

£239

Oct 31, 2014

ScottishPower

Online Fixed Price Energy November 2014

£1,195

£219

Oct 31, 2014

EDF

Blue+Price Promise December 2014

£1,209

£211

Dec 31, 2014

E.ON

Fixed 1 Year v4

£1,222

£198

12 months

first:utility

iSave Fixed v8 September 2014

£1,225

£195

Sep 30, 2014

first:utility

iSave Fixed v10 January 2016

£1,274

£146

Jan 31, 2016

npower

Price Protector September 2016

£1,318

£102

Sep 30, 2016

EDF

Price Freeeeze November 2016

£1,349

£71

Nov 30, 2016

ScottishPower

Help Beat Cancer Fixed Price Energy January 2017

£1,350

£70

Dec 31, 2016

What Next?

Switch today and save up to £320 on your gas and electricity

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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