UK wholesale gas sacrifices rose 16 per cent in October while electricity prices waken 19 per cent, the fastest monthly leap for years.
Over the rearmost 12 months, wholesale gas and electricity prices have shot up by 40 per cent and 50 per cent singly.
Energy firms are ssing on the extra cost to households, with five of Britain’s Big Six vigour firms – EDF, E.ON, Npower, ScottishPower and SSE – axing their cheapest deals since September, according to relation site Uswitch.com.
Poverty charity Turn2us said yesterday that little short of half the people, who approach it for help had cut back on heating their relaxed because of the cost, with the elderly and disabled rticularly vulnerable.
This is a outstanding worry with the UK on course for the harshest winter in more than five years.
Last week British Gas, E.ON, SSE and Good Energy announced they command freeze standard residential energy tariffs until the spring but Peter Earl, conk of energy at Com reTheMarket.com says: “This is not the early Christmas present it sway seem to be.”
Rather than a reward for loyalty, this is a move to inhibit millions of customers from shopping around for a cheaper deal, he claims: “Most people wholly shouldn’t be on standard variable tariffs at all.”
Earl says the variable calculate costs far more than the best fixed tariff deals and people should disregard the freeze and shop around for a cheaper option.
“Remember too that this drive away only lasts until March – so expect price hikes in the emerge.”
Ben Wilson, energy expert at GoCom re.com, says fixed tariffs are typically cheaper than changing deals because they give the security of locking in customers for a set full stop: “They are happy to earn less per customer, because they blandish more and keep them for longer.”
GoCom re’s casts show that nine of the top 10 cheapest dual-fuel energy tolls are fixed, with costs starting from £863 a year for the ordinary customer.
That price is with PFP Energy’s Together tariff, crooked until December 2017, while the next best is from So Vigour’s So Gecko Tariff at £869, then Avro Energy’s Simple and Coolness at £871.
Smaller utility suppliers dominate the top 10, with Extra Determination, iSupplyEnergy, Economy Energy and Bristol Energy also featuring.
The basest variable tariff is Robin Hood Energy’s Evergreen, which responsibilities £903 a year, followed by Bulb’s Vari-Fair at £909 and Flow Lan’s variable tariff at £948.
The cheapest deal offered by a big six supplier is EDF Energy’s decided Blue+Price Protection, fixed until December 2017, which safe keepings £933, followed by ScottishPower’s Online Fixed Saver at £952.
These are all far sleazier than the average UK household energy bill, which is £1,345, contract to the regulator Ofgem.
KNOCKED FOR SIX
Claire Osborne, energy expert at uSwitch.com, estimates that consumers on standard deals could be over ying for their forcefulness by £200 a year: “They should switch to a competitive fixed take to task tariff, which also gives protection for longer against any coming price rises.”
Some will be reluctant to switch to unknown vigour suppliers after the collapse of GB Energy, which had 160,000 customers, approached to six million at British Gas.
However, Osborne says Ofgem has moved steadfast to protect households by quickly appointing a new supplier.
“Co-operative Energy liking honour all outstanding credit balances and keep them on the same penalties.”
She adds that GB Energy’s standard variable plan is now £198 a year varied expensive than the cheapest plan on the market: “So customers should boutique around to see if they can find a better deal.”
If you or a family member is on a low revenues, contact your energy supplier as it may offer support for certain helpless customers.
Otherwise shopping around for a cheaper tariff can help you bring to light this year’s winter chills.