Energy Prices Set To Rise As Fixed Price Deals Come To An End
Five of the top six energy providers have got rid of 14 of their cheapest gas and electricity tariffs over recent weeks meaning for some, gas and electric bills are set to rise.
Many fixed price deals are ending and as a result customers who have benefitted from cheaper gas and electricity prices are now facing price increases as energy providers withdraw their cheapest tariffs.
E.ON is withdrawing its FixOnline 6 deal with customers being moved to a new deal – the EnergyOnline deal. It means they will see their energy bill rise from £825 to over £1,000 a year.
British Gas is scrapping its Price Guarantee deal and customers on this will be rolled on to its Standard tariff. It means customers face an energy price rise to over £1,000 a year. Meanwhile EDF Energy is getting rid of its Annual Fix v2 deal with customers being moved on to its Standard tariff and nPower’s Sign Online 17 is to go, with customers being rolled on to its Standard Online tariff.
The director of Energy UK which represents energy customers, Christine McGourty, said “Energy companies will always contact their customers to let them know if their tariff is changing, or if a fixed-price deal is coming to an end. But we would urge people to take advantage of the wide range of offers out there and to shop around for the best deal”.
She added that Britain had one of the most competitive energy markets in the world with the cheapest gas in Western Europe and “the fourth cheapest electricity”.
It’s important for customers, both domestic and business energy consumers, to compare prices and if necessary switch to another provider and to ensure they don’t get rolled over to a more expensive tariff. There are so many price comparison sites available now that it’s never been easier to compare business electricity prices and gas prices and switch suppliers.
Christine McGourty also suggests putting in place energy efficiency measures to reduce the amount of gas and electricity used to help to cut energy bills.