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Your Summer Plans Could Be Ruined If You Are Shocked With This Costly Surprise

07-07-2017 Posted by:Victoria Arrington

Your Summer Plans Could Be Ruined If You Are Shocked With This Costly Surprise

 

…But You Can Protect Your Funds If You Act Now

 

If you switched to a bargain tariff in July 2016 (or earlier), you’re likely to be affected by this upcoming price hike.

Feeling broke lately? Things could feel even tighter if you don’t act right away.

 

If you’re feeling skint, you’re not alone – nearly half the UK is with you, having less than £200 left a month after essential expenses1. This means there’s not much left over to have a little fun in life. And things may be getting even worse for you this month, if you are one of the energy customers who potentially face a 51% increases in their bills – up to £399 – as some bargain tariffs come to a close.

 

Who’s Affected?

 

If you switched to a bargain tariff in July 2016 (or earlier), you’re likely to be affected by this upcoming price hike.

And, if you switched providers before July 2016, and have not yet taken action, it’s likely you have been already placed on the most expensive tariff – a Standard Variable Tariff. And every day that passes by, is another one that you are overspending on energy.

Are you a GnERGY, nPower or SSE customer? Then you might be hit the hardest of all.

 

Customers of these 3 will have the biggest price hikes

 

Supplier Tariff Current Average Cost Standard Tariff Cost Average Price Rise
£ %
GnERGY Fixed July 2017 £786 £1,165 £379 48%
npower Online Price Fix July 2017 £788 £1,187 £399 51%
SSE Collective 1 Year Fixed v2 Paper Billing2 £762 £1,141 £379 50%

 

What Happens If You Don’t Switch?

 

You may face an awful surprise when you open your next energy bill

You may face an awful surprise when you open your next energy bill

You may face an awful surprise when you open your next energy bill – and see you are paying much more – up to £399 more for energy than you were before. It’s just money wasted, that could have funded a quick holiday or a fun purchase.

 

Can You Prevent it From Happening?

(Yes!)

 

To keep the savings going, you have to update your switch annually –
luckily it’s fast & easy.

 

There’s a (Really) Easy Way to Pad Your Pocket

 

Mark Todd offers his advice: “If your fixed rate is ending this month, use a price comparison service and switch to a new cheap deal to keep on saving. You can get cheap energy year after year but you do need to switch as your cheap deal ends.”

If you were clever enough to switch around this time last year, you have likely found new ways to enjoy the extra cash you have – perhaps a fun holiday, or a longed-for purchase. The great news is that those funds can likely be replicated – or even increased – but only if you make it an annual habit to take 5 minutes and switch to the cheapest tariff you can.

Don’t let your extra fun(ds) come to an end this summer – instead switch now.

 


22 Tariffs are Going Up in Cost – Is Yours One of Them?

Here’s The Full List of Price Hikes:

Dual Fuel Tariffs – Ending 31st July 2017 and Price Rises

Supplier Tariff Current Average Cost Standard Tariff Cost Average Price Rise
£ %
Affect Energy Fixed Saver July 2017 £785 £884 £99 13%
EDF Energy Blue+Price Freeeeze July 2017 £1.153 £1.160 £7 1%
EDF Energy Blue+Price Promise July 2017 £800 £1.160 £360 45%
EDF Energy Blue+Price Promise July 2017 v2 £835 £1.160 £326 39%
EDF Energy Blue+Price Protection Jul17 £878 £1.160 £282 32%
EDF Energy Blue+Price Protection Jul17v2 £875 £1.160 £285 33%
first:utility First Fixed July 2017 £784 £1.149 £364 46%
first:utility First Fixed July 2017 Full Service £864 £1.149 £284 33%
first:utility First Fixed July 2017 v7 £832 £1.149 £316 38%
first:utility First Fixed July 2017 v8 Full Service £912 £1.149 £236 26%
first:utility First Fixed July 2017 v9 + £100 Reward £922 £1.149 £226 25%
first:utility First Fixed July 2017 v10 £807 £1.171 £365 45%
first:utility First Fixed July 2017 v11 + 75 Rewards ONLINE ONLY £922 £1.149 £226 25%
GnERGY Fixed July 2017 £786 £1.165 £379 48%
npower Online Price Fix July 2017 £788 £1.187 £399 51%
Sainsbury’s Energy Price Freeze July 2017 £927 £1.044 £117 13%
Sainsbury’s Energy Price Promise July 2017 £859 £1.044 £185 22%
Sainsbury’s Energy Fixed Price July 2017 £844 £1.044 £200 24%
Scottish Power Online Fixed Price Energy June 2017 £843 £1.167 £324 38%
SSE Collective 1 Year Fixed v2 Paper Billing2 £762 £1.141 £379 50%

 

212 Month Tariff, Commonly ending late July

 

Gas Only Tariffs – Ending 31st July 2017 and Price Rises

Supplier Tariff Current Average Cost Standard Tariff Cost Average Price Rise
£ %
Better Energy Online Fixed July17 £363 £497 £134 37%
Better Energy Postal Fixed July17 £382 £497 £115 30%


Source: energyhelpline.

Correct as of 30th June 2017

All prices are for an average UK household paying by monthly direct debit.

1“Research has shown that half of the population (49% or 32 million people) have less than £200 left to spend per month after having paid their rent, bills and other recurring costs. For 30% of Brits (19 million people) the amount left in their bank accounts was less than £100 – illustrating just how skint most Brits are.”

 

 

 

 

 


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