Last of the big six hikes energy bills

Published:
03 February 2011
Topic:
News,Gas & Electricity

The last of the big six energy companies has finally increased its prices, meaning the vast majority of customers have now been hit with hikes.

When the other major gas and electricity companies revealed they'd be raising their bills, EDF Energy pledged not to do so until March at the earliest.

That's been great news for customers during this particularly icy winter, but all good things come to an end - and now EDF has revealed it will raise bills from March 2.

Households on its standard tariff will see their gas bills rise by an average of 6.5%, while electricity customers face a hike of 7.5%.

That means customers will pay an extra £72.50 a year.

Costly for consumers

If you're on the standard tariff of a big six provider, then you'll have seen your bills rise in recent months - although EDF Energy customers won't feel the effect of increases until next month.

Last year, npower was the first to move, hiking the cost of dual fuel bills by an average of £64. Scottish & Southern came next, with an increase of £67 in October, then British Gas by £79 the following month, while Scottish Power upped its prices by an average of £54.

E.ON followed suit in January, although its standard tariff customers had until February 4 before their bills climbed by an average of £67.

With EDF Energy finally moving too, all standard tariff customers face expensive times ahead.

Consider a fix

If you're getting worried about whether or not you can afford rising energy bills, it might be worth considering a fix.

Although fixed tariffs are slightly more expensive than the very cheapest gas and electricity deals, they are still cheaper than standard tariffs.

So, you save money and you guarantee the cost of gas and electricity won't climb any higher for the duration of the fix. For many worried householders, that's a win-win situation.

The cheapest average fixed bill just now is from Scottish & Southern, with its Atlantic Fixed Price 3 deal, which has an average annual dual fuel bill of £914.81. That's £193.61 cheaper than the average standard tariff!

Move energy providers now

One thing is certain - if you're on your provider's standard tariff then you could be saving money, potentially hundreds of pounds a year.

If you just want to find the cheapest bills now, then the market-leading deal is from EDF Energy, with its Online Saver V8 tariff. That has an average dual fuel bill of £876.46 a year.

That's £231.96 cheaper than the average dual fuel standard tariff and an astonishing £334.89 cheaper than the most expensive standard tariff deal - Scottish Power's average bill is £1,211.35 a year.

Even if you moved from your provider's standard tariff to its cheapest, you'd save an average of £187.43 a year better off. But changing suppliers is very little effort and can save you even more.

Not everyone will be best off on EDF Energy's Online Saver V8, the best price for you depends on your location and consumption.

Compare gas and electricity prices now to find the very best price for your area.

 Provider

 Average standard tariff

Average online/best tariff 

 Best fixed tariff

Potential savings against standard

 British Gas

 £1,100.26

 £913.11
WebSaver 10

 £1,045
Price Promise December 2012

 £187.15

 EDF Energy

 £1,118.28
(from March 2)

 £876.46
Online Saver V8

 £992.73
Annual Fix V1

£241.82 

 E.ON

 £1,122.83

 £906.41
SaveOnline V5

 £1,015.41
Price Protection April 2013

£216.42

 npower

 £1,148.98

 £915.59
SaveOnline 21

 N/A

£233.39

 Scottish Power

 £1,211.35

 £898.67
Online Energy Saver 12

 £1,012.83
Platinum Fixed Energy

 £312.68

 Scottish & Southern

 £1,094.11

 £928.96
Go Direct 5

 £914.81
Atlantic Fixed Price 3

 £165.15

 First Utility

 £963.14

 £930.70
iSave V7

 N/A

 £32.44

 OVO Energy

 N/A

 £998.01
New Energy

 £933.13
New Energy Fixed

 N/A

 Average

 £1,108.42

 £920.99

 

 £187.43

Sourced by http://www.moneysupermarket.com/ 03.02.2011

Please note: Any rates or deals mentioned in this article were available at the time of writing.

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