Comment on the latest fixed energy deals to come to an end

Published:

23/09/2009

Topic:

Press Release,Gas & Electricity

Scott Byrom, utilities manager at moneysupermarket.com said: "British bill payers need to be on their guard as four fixed tariffs from the 'Big Six' energy providers come to an end soon. EDF's Price Freeze 2009 and Scottish Power's Fixed Price Energy Oct 2009 will expire on September 30, and E.ON's Price Protection v16 and v17 will finish on the first of October.

"By choosing a fixed energy tariff 12 months ago, customers saved themselves an average of £214 a year¹ against a back drop of sharply rising prices. However, it is important people realise that once these fixed deals come to an end, their provider will automatically transfer them onto an alternative deal which may replicate standard deal prices. This is good news for those on EDF's Price Freeze 2009 as they may see their bills decrease by £21 a year, however for those on Scottish Power's Fixed Price Energy Oct 2009 and E.ON's Price Protection v16 and v17, customers could see their bills jump by £56 a year on average².

"With five more fixed deals set to end before the year is out, my advice to customers who have fixed deals expiring soon is to look to swap at least four weeks before the termination date of the deal to avoid automatically moving to what could be a more expensive tariff. These customers should now be scouring the market for the next best alternative to avoid paying over the odds. 

"Bill payers need to be aware that any increases they face when their current deal ends work against any savings made when they fixed last year. Timing is crucial when proactively looking for a new energy product, move off your fixed rate too early and you could face termination fees of up to £75³. Move too late and you might find yourself automatically switched to the standard deal or locked into a less attractive fixed deal which isn't the best as we move into the colder winter months when energy consumption tends to be higher.

"For those coming out of fixed energy plans, now is the time to make yet more savings on your next energy deal - shop around for the best tariff in your area that suits your circumstances."

-Ends-

Notes to Editors:
¹ This is based on the average Standard QCC price in the last 12 months against the average fixed deal price in Jul 08.

² Big Six provider tariffs   

Provider	Standard	Online
British Gas	£1,202.43	£993.56 WebSaver 4
npower	£1,255.78	£1,018.54 Web 16
EDF Energy	£1,189.40	£982.49 Online v5
E.ON	£1,194.67	£981.14 Fix Online v3
Scottish & Southern	£1,192.24	£1,009.52 Go Direct
Scottish Power	£1,361.95	£1,036.58 Online Energy Saver 6
Average	£1,232.75	£1,003.64
Sourced by www.moneysupermarket.com 23.09.2009

Popular 2008 fixed deals due to end this year: 

Energy Provider	Tariff Name	End Date	Recommended switch date*	Saving against provider's standard**
EDF	Price Freeze 2009	30-Sep-09	02-Sep-09	-£21.53
Scottish Power	Fixed Price Energy Oct 2009	30-Sep-09	02-Sep-09	£62.30
E.ON	Price Protection v16	01-Oct-09	03-Sep-09	£74.51
E.ON	Price Protection v17	01-Oct-09	03-Sep-09	£32.18
EDF	Price Protection 2009	31-Oct-09	03-Oct-09	-£82.02
E.ON	Fixed Price 2009	01-Nov-09	04-Oct-09	-£59.11
Scottish Power	Fixed Price Energy Dec 2009	30-Nov-09	02-Nov-09	-£56.57
British Gas	Price Guarantee	31-Dec-09	03-Dec-09	£85.63
npower	Price Protector 2010	31-Dec-09	03-Dec-09	-£169.70

*This date is 4-weeks (28-days) prior to the End Date to allow sufficient time for your application to be processed.
** This saving represents the cost saving against the provider's Standard deal

³ Early Termination fees: 

Provider	Tariff	Tariff End Date	Termination Fees
British Gas	Price Guarantee	31-Dec-09	£75
E.ON	Price Protection v16	1-Oct-09	£35
E.ON	Price Protection v17	1-Oct-09	£35
E.ON	Fixed Price 2009	1-Nov-09	£35
EDF	Price Protection 2009	31-Oct-09	£50
EDF	Price Freeze 2009	30-Sep-09	£50
npower	One Tariff	31-Jul-09	£50
npower	Price Protector 2010	31-Dec-09	£50
Scottish Power	Fixed Price 2009	31-Aug-09	£50
Scottish Power	Fixed Price Energy Oct 2009	30-Sep-09	£50
Scottish Power	Fixed Price Energy Dec 2009	30-Nov-09	£50

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