TAKING US FOR FUELS?

£183 price hike shock on Jan 1

MANY thousands of households will start the new year with a £183 increase to their gas and electricity bills.

Forty fixed-term tariffs end on December 31, leaving customers facing major hikes on New Year’s Day.

The average price rise across 12 suppliers is about 19%, hitting Brits just after Christmas.

Suppliers including British Gas, ScottishPower, Npower and EDF all have tariffs ending on the final day of the year.

They are joined by smaller providers such as Engie, Sainsbury’s, Flow Energy, Better Energy, PFP Energy, Genergy, First Utility and Affect Energy.

The research was carried out by the comparison website Energyhelpline, which is now advising consumers to switch. The biggest increase will come from ScottishPower, whose customers will have to pay £331 more per year.

Better Energy customers will be charged an extra £50.

Victoria Arrington from the website, said: “These hikes will come as a blow, especially after the excesses of Christmas.

“But energy is the easiest big bill to switch and you don’t have to wait for your tariff to end to start looking for a good deal,” she added.

“In most cases you will have 49 days before the end date to switch to a new supplier, with no exit fees.”

Fixed-rate tariffs keep prices locked for a set period, with the promise that bills will not rise.

However, when the deal ends customers are then typically moved up to a more expensive standard variable tariff.