Households on a range of fixed energy deals coming to an end this month risk price hikes of up to £338 a year, according to an analysis from price comparison and switching service energyhelpline.com.
A total of 125 deals expire at the end of May that would result in an average rise of £194 per year for customers rolling over to their supplier’s standard variable plan.
Tom Lyon, director of energy at energyhelpline.com, says
“Customers who switched this time last year were savvy enough to secure some exceptionally low rates and so have saved significantly during a period of rising prices.
“I’d strongly urge those with deals ending this month to switch again so they continue to benefit from competitive prices. Fixed tariffs not only offer best value, but they also give certainty about what consumers will pay and protect against any unexpected price hikes.
“It’s also useful to know that any early exit fees on these plans no longer apply, so there’s every reason to shop around, switch and lock in prices before they rise any further.”