Property: Britons urged to check energy deals as bills set to rise by £170 this month
Martin Lewis urges viewers to ‘check and switch’ energy bills
Households that are impacted by the change in energy deals coming to an end could see their bills rise by £171 on average, according to new date by Uswitch.com. This is because households will move onto Standard Variable Tariffs (SVT) if they do not take action and switch to a new deal. The shocking news could be a massive blow to Britons who are already facing a steep rise in energy bills due the latest national lockdown.
The price hike will affect half a million homes with energy bills already expected to rise in the coming months.
Ofgem, the government regulator for gas and electricity markets in Great Britain, is already likely to announce in February that the price cap will increase in April.
Uswitch, the UK’s top comparison website for home services switching, is urging Britons to check when their energy deals expire.
If the deal is about to expire, Uswitch is urging Britons to switch.
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The default energy price cap is £1,042.
There is also a £161 gap between the cost of the best deals and the price cap.
Ofgem has already pitched a plan for households to pay an additional £21 charge on their energy bills from next April.
However, this could have a massive impact on households already struggling to pay their bills due to the devastating economic impact of the pandemic.
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In just a few weeks, 68 energy deals are set to end.
This gives the 492,62 homes affected just days to organise a new energy deal just as temperatures continue to plummet.
Uswitch have revealed their expert advice for completing a switch to avoid being charged more.
According to them, the cheapest deal on the market is the SimplyLoyal21 tariff from Simplicity Energy at £880 fixed for 12 months.
They also advise homeowners to put a reminder in their calendars or phones of when their energy deal is coming to an end so they can avoid paying more.
Registering with Uswitch automatically means you will receive an email reminder of when this happens.
If you can’t find your last bill or statement, don’t worry as energy companies can always come up with a rough estimate.
There will be no interruption in your energy when you switch.
After you’ve switched, there will be a “cooling off period” which is around 17 days.
You have the opportunity to change your mind if you’re not happy with the switch.
Sarah Broomfield, energy expert at Uswitch.com, said: “People often use January as a prime time to detox their finances, and it means that many fixed deals taken out this time last year are about to come to an end.
“Anyone who does not act now by signing up to a new tariff will automatically move onto their supplier’s standard variable tariff, which could add as much as £171 to bills.
“It is also likely that the energy price cap will increase from April, meaning bills are likely to become more expensive. This makes it even more important that people who are about to move onto a standard variable tariff switch suppliers now.
“With the majority of the country spending more time at home during this national lockdown, combined with the cold weather, we will be using much more energy to keep ourselves warm.
“Switching suppliers is simple, and can take as little as 10 minutes. If you’re struggling to work out how to check when your tariff is due to end, you can use our online guide to point you in the right direction.”
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