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British Gas customer knocks £80 off monthy bill after Martin Lewis tip
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British Gas customers told they could save £80 a month on fixed deal flagged by Martin Lewis
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More than a quarter of a million households face soaring energy bills if they do not switch tariff soon, new research has revealed.
Some 167 fixed tariffs end this month which will see customers automatically switched onto more expensive default deals if they do not switch tariff or provider when their plan comes to an end.
The average increase to energy bills is £67 per household with the average annual cost of a fixed rate energy tariff ending in February coming in at £918, according to Compare the Market.
If customers do not switch when their fixed tariff ends, energy companies are set to benefit from a huge inertia windfall .
Standard variable tariffs are some of the most pricey deals on the market.
Currently, the difference between the average standard tariff and the cheapest deal on the market was around £170, according to Uswitch.
These default tariffs are what suppliers place you on when your fixed contract runs out or you do not specify which deal you wish to be placed on.
Around 53 per cent of households are left stuck on these tariffs, according to Ofgem, meaning there are millions of homes who could save by switching.
The plan will be usually be a variable rate which means your unit rate costs can go up or down at any time. These plans are also the first to be affected when the energy companies announce an energy price rise.
Energy bills will rise for millions of households with most expected to see an increase of nearly £100 a year, in a time when many face financial difficulties.
The energy price cap will rise to pre-pandemic levels for households, increasing by £96 to £1,138 for 11million default tariff customers, Ofgem has announced today.
Bills will also increase by £87 to £1,156 for 4million pre-payment meter customers.
The hike will come in on 1 April for six months with the changes blamed on a rise in wholesale energy prices. The rise is far higher than predicted by insiders.
The energy price cap is increasing by £96 to £1,138 for 11 million default tariff customers
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