Here comes the spring energy rip-off!
The best gas and electricity tariffs expire now, turning millions of us into April Fools...
April Fool's Day is always great fun -- unless you're the victim of a practical joke, of course.
Get ready for the rip-off
Alas, the bad news is that Britain's biggest energy companies are all set to play a massive April Fool's trick on millions of customers.
That's because several of the cheapest fixed-rate tariffs for gas and electricity will expire today (31 March) or tomorrow - 1 April.
As a result, customers will be moved from cheap energy deals onto inferior tariffs. In some cases, these customers could end up on their supplier's standard tariff, which is usually the most expensive option.
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See the guideWill you be an April Fool?
During the recent winter snow falls, energy consumption was very high, making consumers anxious about rising fuel bills. However, as warmer weather arrives, we use less gas and electricity and, therefore, worry less about our fuel bills.
Of course, energy suppliers know this, so they plan to cash in on the warmer weather by sneakily raising their prices while we're all enjoying the spring sunshine. Grrr!
Therefore, anyone on fuel tariffs expiring on 31 March or 1 April needs to act now, as losing these rates leaves customers exposed to huge hikes in their energy bills.
15 dead deals
According to Energy Helpline, which powers lovemoney.com's energy comparison service, no fewer than 15 fixed-rate or guaranteed-discount tariffs terminate on 31 March or 1 April. Here they are:
Capped or fixed tariffs
Supplier |
Tariff |
Expires |
British Gas |
Price Guarantee March 2011 |
31 March |
E.ON |
EnergySaver R1 |
1 April |
E.ON |
FixOnline 6 |
1 April |
E.ON |
Price Protection R2 |
1 April |
EDF Energy |
Annual Fix v2 |
31 March |
Scottish Power |
Capped for Free |
31 March |
Scottish Power |
Capped Price Energy April 2011 |
31 March |
Scottish Power |
Fix 'n' Flex April 2011 |
31 March |
Guaranteed discount tariffs
Supplier |
Tariff |
Expires |
EDF Energy |
Online S@ver v5 |
31 March |
EDF Energy |
Energy Discount Plan V2 |
31 March |
Npower |
Sign On-Line 17 |
31 March |
Npower |
WEB 17 |
31 March |
Scottish & Southern Energy |
Go Direct 3 |
31 March |
ScottishPower |
Price Tracker April 2011 |
31 March |
ScottishPower |
Discounted Energy April 2011 |
31 March |
Here comes 'tariff trauma'
In total, 12 deals expire today, followed by another three deals tomorrow (Friday).
Of course, customers who've been paying these fixed or discounted rates have been protected from the steep price rises seen in recent years. However, hundreds of thousands of households are set to suffer 'tariff trauma' when suppliers move them to much pricier energy rates.
Alas, even the best of the current crop of fixed-rate tariffs aren't as good as the above deals, so consumers are sure to suffer, especially if they sit back and do nothing!
How will Ofgem react?
Ofgem, the energy regulator, is already unhappy with the 'complex and unfair' pricing practices of the UK's biggest energy suppliers. Hence, it gave these companies eight weeks to simplify their gas and electricity pricing.
John Fitzsimons explains why you could save a bundle by getting a new energy tariff today
Bizarrely, Ofgem's investigation could leave many customers worse off, because simpler tariffs don't necessarily mean lower fuel bills!
The answer is to switch and save!
If you don't want to get ripped off for the rest of 2011, then now is the time to act.
First, get out your latest gas and electricity bills -- or call your supplier(s) to check which tariff(s) you're on.
Second, use our highly rated energy comparison service to compare your current or new deal to the best on offer.
Third, either grab your current supplier's best deal or, even better, switch suppliers for maximum savings. Surveys suggest that you could save £300+ a year by shopping around.
So, don't delay. Act today, before you become an April Fool!
More: Get cheaper gas and electricity | OFGEM proposals unlikely to do much good | John Lewis offers never-ending refund
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