Energy bills could rise by as much as £269 at the end of the month – here’s how to switch and save
Families are being urged to switch or face a huge hike in bills at the end of the month
HOMEOWNERS who don't switch when their energy deal comes to an end this month face an average bill rise of £269.
Thirty fixed deals are set to come to an end on March 31, and those that don't take action now will be automatically shifted onto their supplier's pricier standard tariff.
When current deals expire, homeowners are rolled onto the standard variable rate (SVR), which in most cases is the supplier's most expensive deal.
Dual fuel tariffs that are ending this month include deals from energy giants Npower and EDF Energy, says comparison site Gocompare.com.
For example, EDF's Blue+Price Promise March 2017 deal costs £824. But when the deal ends, customers will roll onto EDF's SVR which is £1,081 - £257 more.
Customers who don't switch at the end of their deal with EDF's Blue+Price Promise March 2017 Gas Only deal will see a staggering £696 increase in bills, as the deal cost just £385.
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Npower customers on the supplier's Online Price Fix March 2017 should switch at the end of the month or face paying £269 a year more once they're rolled onto its SVR.
The Online Price Fix deal currently costs £807, while Npower's SVR costs £1,077 a year.
Ben Wilson, energy spokesperson at Gocompare.com, said: “With spring just around the corner, this is the time of year where many people begin turning off their heating and start paying less attention to their energy bills.
HOW TO FIND A CHEAPER ENERGY DEAL
FIRSTLY, you’ll need to have a recent bill to hand. This will have all the details you need, including the name of your tariff and your recent spending on gas and electricity.
Use a comparison website like uSwitch.com or Energyhelpline.com. Other services like MoneySavingExpert’s Cheap Energy Club will let you set up an email reminder that will alert you when cheaper deals become available.
Compare prices and before you switch check with a cashback website, like Quidco or TopCashback, to see if there’s a deal you can use to increase your savings.
Wilson continued: “However, taking your eye off the ball could be a costly mistake as 30 fixed rate tariffs end on March 31 resulting in an average price rise of £269.
“Comparing and switching tariffs is quick and easy, you could even save as much as £305 a year by doing so - money that could be better spent on getting out and about with the family over the spring bank holiday weekends.”
Not all bills coming to an end this month will result in homeowners paying more.
Some current deals are actually more expensive than the energy firm's SVR, so your bills could fall when your deal ends.
For instance, EDF's Blue+Fixed Prepay March 2017 Paperless deal costs £1,169 - £88 more than the supplier's SVR.
That means homeowners on this deal will see their bills go down after March 31.
Nevertheless, it's worth looking around to see if you can get a cheaper deal - as a supplier's SVR is almost always more expensive than others deals on the market.
The tariffs ending March 31 and how bills will be impacted
EDF (SVR = £1,081)
Blue+Price Promise March 2017 Paperless = £824 (£257 cheaper than SVR)
Blue+Price Promise March 2017 Gas Only Paperless = £385 (£696 cheaper than SVR)
First Utlity (SVR = £1,148)
iSave Fixed v47 March 2017 = £995 (£153 cheaper than SVR)
First Fixed March 2017 + = £849 (£299 cheaper than SVR)
First Fixed March 2017 v2 = £817 (£331 cheaper than SVR)
First Fixed March 2017 v3 = £816 (£331 cheaper than SVR)
Fixed March 2017 v4 = £805 (£342 cheaper than SVR)
Npower (SVR = £1,077)
Price Fix April 2017 = £1,021 (£55 cheaper than SVR)
Price Fix March 2017 = £1,036 (£41 cheaper than SVR)
Online Price Fix March 2017 = £807 (£269 cheaper than SVR)
Fixed Energy Online March 2017 = £781 (£295 cheaper than SVR)
Online Fix March 2017 = £765 (£312
Spark Energy (SVR = £1,103)
Tenant Saver (fixed) - March 2017 = £1,027 (£76 cheaper than SVR)
LoCo2 (SVR = £1,012)
Pocket Fixed March 2017 = £537 (£474 cheaper than SVR)
GnERGY (SVR = £883)
Fixed March 2017 = £719 (£164 cheaper than SVR)
Flow Energy (SVR = £949)
Connect5 = £772 (£176 cheaper than SVR)
Winter Warmer (Fixed April 2017) = £741 (£2017 cheaper than SVR)
iSupply (SVR = £950)
iFix 201703 (Electricity only) = £327 (£578 cheaper than SVR)
iFix 201703 = £737 (£213 cheaper than SVR)
iFix 201703 v2 (Electricity only) = £373 (£577 cheaper than SVR)
iFix 201703 v2 = £731 (£218 cheaper than SVR)
Co-operative Energy (SVR = £1,180)
Co-op Online March 2017 = £775 (£405 cheaper than SVR)
Co-op Online March 2017 (paper bills) = £805 (£375 cheaper than SVR)
Better Energy (SVR = £461)
Online Fixed March17 = £363 (£98 cheaper than SVR)
Postal Fixed March17 = £382 (£79 cheaper than SVR)
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