The heat is on...to swap your energy supplier
MORE than 100 energy deals end today, potentially pushing prices higher for tens of thousands of households. The 112 expired deals represents the biggest number of tariffs to come to an end in a single month so far this year – 44 per cent higher than the number last month.
In a double blow, many suppliers are also shunting up their prices, meaning households that were locked in a good deal now face a big leap in bills if they don’t choose a new tariff.
Four of the Big Six suppliers – British Gas, EDF Energy, npower and ScottishPower – will raise prices for customers whose deals are ending today, according to switching service energyhelpline.
This will add an average £182 a year to bills. Ten smaller suppliers will also push up prices.
Meanwhile, 42 companies have already raised prices this year according to auto-switch company Look After My Bills, which automatically moves its customers between suppliers and on to cheaper deals each year. The company’s Simona Rutkauskaite says this makes the cost of staying with a provider long term that much more expensive.
Shell Energy – known as First Utility before it was bought by oil and gas company Royal Dutch Shell – has introduced the biggest price increase. Its prices are rising by 38 per cent – adding £347 to the annual bill of a household with average energy consumption.
To work out whether your deal is
one of the hundreds that end today, the biggest giveaway is in the name.
Tariff names are printed on bills and if yours includes June 2019 in its title, then it’s likely to have ended.
But some using ‘July’ in their name will also end as the tariff is valid until tomorrow – the beginning of a new month.
Suppliers with tariffs expiring today include British Gas, EDF Energy, npower, ScottishPower, Shell Energy and smaller suppliers such as Engie, Flow Energy and PFP Energy. But better deals are available than the standard ones most customers will be moved to – because many suppliers will increase prices to the energy regulator’s price cap.
Ofgem sets a price limit for energy twice a year.
For average annual energy use this currently works out at £1,254 a year for dual fuel (gas and electricity together).
A new price cap will be announced in late summer, to take effect in October. Victoria Arrington, of energyhelpline, says: ‘With more than 70 suppliers in the market, there are plenty of competitive deals available with suppliers rated for good customer service.
‘Now it’s time for customers to turn up the heat on energy suppliers.’
Even customers whose deals haven’t yet ended can take advantage. In most cases there is a 49day grace period before a tariff’s end date in which households can change their supplier with no exit fees.
Those who haven’t switched in a long while stand to make the biggest savings.
Arrington adds: ‘After this year’s mild winter, many customers will be in credit with their supplier. They can reclaim that money and then save more by switching.’
Even those adamant about staying with an existing supplier should ask the company whether it offers any cheaper deals. Customers need to take care about which supplier they stick with or switch to.
The latest rankings from charity Citizens Advice show that a quarter of energy companies fail to achieve half marks for customer service.
Its star ratings are based on complaints, call waiting times and ease of switching.
Surprisingly Big Six supplier SSE makes it to the top of the best rated companies, along with lesserknown names such as Affect, Breeze, So Energy and Igloo Energy.
Those at the bottom include OutFox the Market (the centre of a major probe late last year by The Mail on Sunday), Toto, Utilita, Eversmart and Nabuh Energy.
Customers can access the ratings by visiting energycompare.citizensadvice.org.uk.
Help is also available at energyhelpline.com or by phone on 0800 074 0745.
Auto-switching companies, which require a one-time sign-up – then automatically shift customers to competitive deals – include Look After My Bills, weflip and Switchcraft.