Energylinx News

September 18, 2012

Energy Customers Must Act Now

ENERGYLINX: With 9 gas and electricity tariffs set to be removed from the market by early October, energy customers may want to consider switching tariffs as soon as possible so as to avoid an impending increase in the price they pay for their energy.

Amidst last month's premature removal of several cheap, fixed rate tariffs - preceded by Scottish and Southern Energy's announcement of an impending hike in prices of up to 10.75% - customers should be alert as to what will occur at the end of their capped or fixed rate period.

Within the next several weeks, 9 tariffs will reach their expiration date and be removed from the market:

· EDF - Fixed S@ver version 2
· EDF - Online S@ver version 10
· EDF - Online S@ver version 12
· E.ON - Fixed Price October 2012
· E.ON - Track and Save 10
· British Gas - Websaver 12
· British Gas - Websaver 12 with EnergyExtra 50
· British Gas - Price Cap 2012
· Scottish Power - Direct October 2012

Some of these tariffs - such as British Gas' Websaver 12 and EDF's Online S@ver plans include guaranteed rate discounts of between 2-6% against the suppliers' standard tier rates; meanwhile, others such as EDF's Fixed S@ver and British Gas' Price Cap 2012 have maintained lower, long-term fixed rate unit prices. Yet despite key differences surrounding plan incentives and discounts, all of the tariffs scheduled for removal have one feature in common: after said tariff's end-date, customers will automatically be transferred over to their suppliers' standard rate tariff.

In many cases, the customers being transferred from these 9 tariffs stand to lose substantially more than 2-6% by being dumped onto their suppliers' standard tariffs - in fact, some customers who have been on long-term fixed rate tariffs could see an increase in prices of up to 20%.

Bearing in mind that these imminent price increases are merely due to an expiration of great deals - as opposed to industry-wide price hikes - customers should be made aware that they have the ability in order to minimise the impacts of their upcoming tariff transfers, and are encouraged to take action.

Around 80,000 customers in the UK switch energy suppliers on a weekly basis, enabling themselves to avoid such 'automatic' price changes as that which are about to occur. Yet simultaneously, figures from industry regulator OFGEM indicate that around 60% of energy users have never pursued switching companies - and are collectively paying an annual £4 billion more for their energy bills than they should be.

By using our 100% free and impartial energy comparison tool, Energylinx can help homeowners to find the cheapest deal for their home. If you are currently participating in one of the following tariffs that are scheduled for removal from the market this month:

· EDF - Fixed S@ver version 2
· EDF - Online S@ver version 10
· EDF - Online S@ver version 12
· E.ON - Fixed Price October 2012
· E.ON - Track and Save 10
· British Gas - Websaver 12
· British Gas - Websaver 12 with EnergyExtra 50
· British Gas - Price Cap 2012
· Scottish Power - Direct October 2012

Click here to start comparing now.

Posted on September 18, 2012 at 01:06 PM